FULTZ COMPANY Budgeted Income Statement > $ > $ ent Attempt in Progress ultz Company has accumulated the following budget data for the year 2020. 1. Sales: 31,480 units, unit selling price $89. 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 $6 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,270 pounds; ending, 15,380 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000. 5. Income taxes: 30% of income before income taxes