Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,700 barrels of all for purchase in June for $6 per barrel. Direct labor budgete- in the chemical process was $107.600 for June. Factory overhead was budgeted at $161,400 during June. The inventories on June 1 were estimated to be Oil 57.500 PE 5,100 PZ 4,300 Work in process 6,200 The desired inventories on June 30 were Oll $8,300 PI 4,600 92 Work in process 4,100 6,500 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 minussige Delaware Chemical Company Cost of Goods Sold Budget For the Month Ending June 30 Direct materials Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in whic Delaware Chemical Company Cost of Goods Sold Budget For the Month Ending June 30 Direct materials