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View Policies Current Attempt in Progress Vaughn Company has accumulated the following budget data...

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Accounting

View Policies
Current Attempt in Progress
Vaughn Company has accumulated the following budget data for the year 2022.
Sales: 31,130 units, unit selling price $90.
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.
Inventories (raw materials only): beginning, 10,150 pounds; ending, 15,370 pounds.
Selling and administrative expenses: $170,000; interest expense: $30,000.
Income taxes: 20% of income before income taxes.
Prepare a schedule showing the computation of cost of goods sold for 2022.
VAUGHN COMPANY
Computation of Cost of Goods Sold
Cost of one unit of finished goods:
Direct materials
Direct labor
Manufacturing overhead
Total
Prepare a budgeted multiple-step income statement for 2022.
FULTZ COMPANY
Budgeted Income Statement
$
$
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