Exercise 9-13 (Video) Fultz Company has accumulated the following budget data for the year 2020. 1. 2 3. 4. 5. Sales: 31,410 units, unit selling price $85. 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 $7 per direct labor hour. Inventories (raw materials only): beginning, 10,120 pounds; ending, 15,480 pounds. Selling and administrative expenses: $170,000; interest expense: $30,000. Income taxes: 30% of income before income taxes. Prepare a schedule showing the computation of cost of goods sold for 2020. 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 2020. FULTZ COMPANY Budgeted Income Statement Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER % Earn Maximum Points available only if you answer this question correctly in your first attempt