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 at $400,000 during June. The inventories on June 1 were estimated to be: Oil PI P2 Work in process $15,200 8,300 8,600 12,900 The desired inventories on June 30 were: Oil $16,100 22 P1 9,400 P2 7,900 Work in process 13,500 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. Hua Ham Decention Delaware Chemical Company Cost of Goods Sold Budget For the Month Ending June 30 Amount Amount Amount