Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 21,200 barrels of oil for purchase in June for $76 per barrel. Direct labor budgeted in the chemical process was $209,500 for June. Factory overhead was budgeted at $290,000 during June. The inventories on June 1 were estimated to be $14,700 Oil P1 9,800 P2 8,400 Work in process 12,200 The desired Inventories on June 30 were: Oil $16,100 P1 9,000 P2 8,000 Work in process 12,600 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 Direct materials: Previous Check My Work Nicander 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 Direct materials: Previous Check My Work