Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P$1$ and P$2.$ Delaware budgeted $31,500$ barrels of oil for purchase in June for $$61$ per barrel. Direct labor budgeted in the chemical process was $$211,400$ for June. Factory overhead was budgeted at $$345,900$ during June. The inventories on June $1$ were estimated to be:

Oil $$14,800$

P$19,900$

P$28,500$

Work in process $12,300$

The desired inventories on June $30$ were:

Oil $$16,300$

P$19,100$

P$28,000$

Work in process $12,700$

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.