Fultz Company has accumulated the following budget data for the year 2017. 1. Sales: 31,190 units,...

Fultz Company has accumulated the following budget data for the year 2017.

1.		Sales: 31,190 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 at $12 per hour, and manufacturing overhead $6 per direct labor hour.
3.		Inventories (raw materials only): beginning, 10,180 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.

(a)

Prepare a schedule showing the computation of cost of goods sold for 2017.

FULTZ COMPANY Computation of Cost of Goods Sold For the Year Ending December 31, 2017December 31, 2017For the Quarter Ending December 31, 2017
Cost of one unit of finished goods:
Direct materials		$
Direct labor
Manufacturing overhead
Total		$

Cost of Goods Sold		$

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ekkarill92 answered 1 year ago

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