Fultz Company has accumulated the following budset data for the year 2020 . 1. Sales: 31.320 units, unit selling price $85. 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 37 per direct labor hour. 3. Inventories (raw materials only) beginning, 10,300 pounds, ending, 15,190 pounds. 4. Selling and administrative expenses: $170,000;interest expense: $30,000. 5. Income taxes: 30% of income belore income taves. FULTZ COMPANY Computation of Cost of Goods Sold Cost of one unit of finished goods: Direct materials Directlabor Manufacturing overhead Total Cost of Goods Sold FULTZ COMPANY Budgeted Income Statement