*Exercise 21-13 Fultz Company has accumulated the following budget data for the year 2017 1. Sales: 31,130 units, unit selling price $90 2. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound direct abor 3 hours at $12 per hour and manufacturing overhead 3. Inventories (raw materials only): beginning, 10,150 pounds; ending, 15,370 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000 5. Income taxes: 30% of income before income taxes. ?? per direct abor hour. Prepare a schedule showing the computation of cost of goods sold for 2017 FULTZ COMPANY Computation of Cost of Goods Sold Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold Prepare a budgeted multiple-step income statement for 2017. FULTZ COMPANY Budgeted Income Statement