Cost of goods sold budget

Delaware Chemical Company uses oil to produce two types of plastic products, P$1$ and P$2.$ Delaware budgeted $30,100$ barrels of oil for purchase in June for $$76$ per barrel. Direct labor budgeted in the chemical process was $$297,400$ for June. Factory overhead was budgeted at $$411,800$ during June. The inventories on June $1$ were estimated to be:

Line Item Description Amount

Oil $$20,800$

P$114,000$

P$211,900$

Work in process $17,200$

The desired inventories on June $30$ were:

Line Item Description Amount

Oil $$22,900$

P$112,800$

P$211,300$

Work in process $17,800$

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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