Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delawarebudgeted35,000 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 $400,000 during June. The inventories on June 1 were estimated to be:

The desired inventories on June 30 were:

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Hint(s)

Use the preceding information to prepare a cost of goods sold budget for June 2015.

Delaware Chemical Company
Cost of Goods Sold Budget
For the Month Ending June 30, 2015
	$
	$
Direct materials:
	$
	$
	$
	$
	$
	$

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Determine which components of the integrated budgets are needed to develop the cost of goods sold budget.

Learning Objective 4.