Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 30,400 barrels of oil for purchase in June for $64 per barrel. Direct labor budgeted in the chemical process was $252,900 for June. Factory overhead was budgeted at $350,200 during June. The inventories on June 1 were estimated to be:

Oil	$17,700
P1	11,900
P2	10,100
Work in process	14,700

The desired inventories on June 30 were:

Oil	$19,500
P1	10,900
P2	9,600
Work in process	15,200

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:
	$
	$
	$
		$
			$
			$
			$