Cost of Goods Sold Budget uses oil to produce two types of plastic products, PI and P2. Delaware budgeted plastic products, P1 and P2. Delaware bu 1 25,600 barrels of till for purchase in June for $65 per barrel. Direct labor budgeted in the chemical process was $199,700 for June Factory overhead was budoeted at $299,500 during June. The inventories on June 1 were estimat oil P1 P2 Work in process $14,000 9,400 8,000 11,600 The desired inventories on June 30 were: Oil P1 P2 $15,400 8,600 7,600 12,000 Work in process 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 sion Delaware Chemical Company Cost of Goods Sold Budget For the Month Ending June 30 Finished goods inventory.June I Work in process une 1 Drect matenals: Previous Next t for Grading 2