Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 16,900 barrels of oil for purchase in June for $63 per barrel. Direct labor budgeted in the chemical process was $117,100 for June. Factory overhead was budgeted at $191,600 during June. The inventories on June 1 were estimated to be:

Oil	$8,200
P1	5,500
P2	4,700
Work in process	6,800

The desired inventories on June 30 were:

Oil	$9,000
P1	5,000
P2	4,400
Work in process	7,000

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:
	$
	$
	$
		$
			$
			$
			$