Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 19,000 barrels of oil for purchase in June for $76 per barrel. Direct labor budgeted in the chemical process was $187,700 for June. Factory overhead was budgeted at $259,900 during June. The inventories on June 1 were estimated to be:

Oil	$13,100
P1	8,800
P2	7,500
Work in process	10,900

The desired inventories on June 30 were:

Oil	$14,500
P1	8,100
P2	7,100
Work in process	11,300

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
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