Cost of Goods Sold Budget

Delaware Chemical Company uses oil 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
P1	8,300
P2	8,600
Work in process	12,900

The desired inventories on June 30 were:

Oil	$16,100
P1	9,400
P2	7,900
Work in process	13,500

Cost of Goods Sold Budget

Use the preceding information to prepare a cost of goods sold budget for June 2017.

Delaware Chemical Company
Cost of Goods Sold Budget
For the Month Ending June 30, 2017
			$
		$
Direct materials:
	$
	$
	$
		$
			$
I have to choose what goes on the subject lines to the left as well, the options for the top two are : Direct labor Factory overhead Total work in process during period Work in process inventory, June 1, 2017 Work in process inventory, June 30, 2017. For the first five lines of direct material: Cost of direct materials available for sale Direct labor Direct materials inventory, June 1, 2017 Direct materials inventory, June 30, 2017 Total work in process during period And the final lines are: Direct materials inventory, June 1, 2017 Direct materials inventory, June 30, 2017 Factory overhead Total work in process during period Work in process inventory, June 30, 2017			$