Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,000 barrels of oil for purchase in June for $72 per barrel. Direct labor budgeted in the chemical process was $110,900 for June. Factory overhead was budgeted at $181,400 during June. The inventories on June 1 were estimated to be:

Oil	$7,800
P1	5,200
P2	4,400
Work in process	6,400

The desired inventories on June 30 were:

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

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.

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