Cost of goods sold budget Delaware Chemical Company uses oil to produce two types of plastic products, P$1$ and P$2.$ Delaware budgeted $15,200$ barrels of oil for purchase in June for $\backslash (\backslash$$ $70\backslash )$ per barrel. Direct labor budgeted in the chemical process was $\backslash (\backslash$$ $117,000\backslash )$ for June. Factory overhead was budgeted at $\backslash (\backslash$$ $191,500\backslash )$ during June. The inventories on June $1$ were estimated to be: The desired inventories on June $30$ were: 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.Use the preceding information to prepare a cost of goods sold budget for June. For those boxes ers use a minus sign.

Key Code:

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Instructions

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$\backslash$table$[[\backslash$table$[[$Delaware Chemical Company$],[$Cost of Goods Sold Budget$],[$For the Month Ending June $30]]],[\backslash$table$[[$Finished goods inventory, P$1$ and P$2,$ June $1],[$Work in process inventory, June $1]]],[$Direct materials:$],[$Direct materials $($oil$)$ inventory, June $1],[$Direct materials $($oil$)$ purchases$],[$Cost of direct materials available for use$],[$Direct materials $($oil$)$ inventory, June $30],[$Cost of direct materials placed in production$],[$Direct labor$],[$Factory ovemead$],[$Total manufacturing costs$],[$Total work in process during the period$],[$Work in process inventory, June $30],[$Cost of goods manufactured$],[$Cost of finished goods available for sale$],[$Finished goods inventory, P$1$ and P$2,$ June $30],[$Cost of goods sold$]]$

EX $22-15$ Cost of goods sold budget

Obj. $4$

$$ Cost of goods sold, $$3,788,100$

EXCEL TEMPLATE

Delaware Chemical Company uses oil to produce two types of plastic products, P$1$ and P$2.$ 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

P$1$

P$2.$

Work in process

$$15,200$

$8,300$

$8,600$

$12,900$

The desired inventories on June $30$ were:

$\backslash$table$[[cdots,$$$16,100$