Concord Company has accumulated the following budget data for the year 2022. L Sales: 31.230 units, unit selling price $88. 2. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $8 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,400 pounds; ending, 15,210 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000 5. Income taxes: 20% of income before income taxes. (a) Your answer is correct. Prepare a schedule showing the computation of cost of goods sold for 2022. CONCORD COMPANY Computation of Cost of Goods Sold For the Year Ending December 31,2022 Cost of one unit of finished goods: Direct materials Direct labor 5 36 Manufacturing overhead 24 Total 65 Cost of Goods Sold 2029950 Prepare a budgeted multiple-step income statement for 2022. FULTZ COMPANY Budgeted Income Statement