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Fultz Company has accumulated the following budget data for the year 2020. 1. Sales: 31,270...

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Accounting

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Fultz Company has accumulated the following budget data for the year 2020. 1. Sales: 31,270 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 $ 13 per hour, and manufacturing overhead $6 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,110 pounds; ending, 15,430 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 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 $

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