Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 24,800 barrels of oil for purchase in June for $67 per barrel. Direct labor budgeted in the chemical process was $216,000 for June. Factory overhead was budgeted at $299,100 during June. The inventories on June 1 were estimated to be:

Oil	$15,100
P1	10,200
P2	8,600
Work in process	12,500

The desired inventories on June 30 were:

Oil	$16,600
P1	9,300
P2	8,200
Work in process	13,000

Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Delaware Chemical Company
Cost of Goods Sold Budget
For the Month Ending June 30
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