Prepare a budgeted income statement for fultz company

Furtz Company has accumulated the following budget data for the year 2020. Sales: 31,330 units, unit selling price $88 Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $22 per hour, and manufacturing overhead $7 per direct labor hour. Inventores (raw materials only beginning, 10,220 pounds; ending, 15,410 pounds, Selling and administrative expenses $170,000; interest expense: $30,000. Income taxes: 30% of income before income taxes. CALCULATOR PRINTER VERSION BACK Exercise 9-13 (Part Level Submission) (Video) Fultz Company has accumulated the following budget data for the year 2020. 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. 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 2020. FULTZ COMPANY Computation of Cost of Goods Sold Cost of one unit of finished goods Direct materials Direct labor Manufacturing overhead Total