21 HW ACC 117 Check My Delaware Chemical Company uses oll to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oil for purchase in June for $90 per barrel. Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted $400,000 during June. The inventories on June 1 were estimated to be: Oil $15,200 12,900 7,900 13,500 Cost of Goods Sold Budget