Fultz Company has accumulated the following budget data for the year 2017. 1 Sales: 31,330 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 $7 per direct labor hour. 3. Inventories (raw materials only): beginning 10,220 pounds; ending, 15,410 pounds. 4. Selling and administrative expenses: $170,000 interest expense: $30,000. 5. Income taxes: 30% of income before income taxes. 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 eTextbook and Media Prepare a budgeted multiple-step income statement for 2017. FULTZ COMPANY Budgeted Income Statement