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Bookmarks Window Help ?edugen wileyplus.com » Basic Financial Calculator Download rb...nts- RARBG Facebook Exercise 21-13 Fultz Company has accumulated the following budget data for the year 2017, 1. Sales: 31,380 units, unit selling price $90. 2 Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours 3. 4. 5. at $12 per hour, and manufacturing overhead $6 per direct labor hour Inventories (raw materials only): beginning, 10,370 pounds; ending, 15,270 pounds. Selling and administrative expenses: $170,000; interest expense: $30,000. Income taxes: 30% of income before income taxes. Prepare a schedule showing the computation of cost of goods sold for 2017, FULTZ COMPANY n of Cost of Goods Sold Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold Prepare a budgeted multiple-step income statement for 2017 FULTZ COMPANY UN

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1.

FULTZ COMPANY

Computation of cost of goods sold

2)

FULTZ COMPANY

Budgeted Income Statement

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