Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 26,600 barrels of oil for purchase in June for $62 per barrel. Direct labor budgeted in the chemical process was $197,900 for June. Factory overhead was budgeted at $296,900 during June. The inventories on June 1 were estimated to be: $13.00 2.300 7.000 11,500 The desired inventories on June 30 were: $15.2010 12 7.500 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 Cmetal Goods Sold Budget For the Month Ending June 20 Finished eventury, June 1 Work in process inventory, June 1 Direct materiale intery, June 1 Direct materiale purchases Cost of Grect materiale ale for Direct materialientary, June 30 Cest of direct materiale pred in reduction Director Factory overed Totat manufacturing costs Total work in proces during the period Work in process inventory.une se Cost od manufactured Coat of the goods available turske Finished and inventary, June 30 Cost of good old