Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 22,800 barrels of oil for purchase in June for $69 per barrel. Direct labor budgeted in the chemical process was $204,500 for June. Factory overhead was budgeted at $283,200 during June. The inventories on June 1 were estimated to be:

Oil	$14,300
P1	9,600
P2	8,200
Work in process	11,900

The desired inventories on June 30 were:

Oil	$15,700
P1	8,800
P2	7,800
Work in process	12,300

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:
	$
	$
	$
		$
			$
			$
			$