Exercise 21-13 (Part Level Submission) Fultz Company has accumulated the following budget data for the year 2017. Sales: 31,240 units, unit selling price $89. 1. Cost of one unit of finished goods: direct materials 1 pound at $6 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $8 per direct labor hour. 2. Inventories (raw materials only): beginning, 10,130 pounds; ending, 15,270 pounds. 3. Selling and administrative expenses: $170,000; interest expense: $30,000. 4. Income taxes: 30% of income before income taxes. 5. (a) Prepare a schedule showing the computation of cost of goods sold for 2017. FULTZ COMPANY Computation of Cost of Goods Sold For the Quarter Ending December 31, 2017 + Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold 2$