Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 18,100 barrels of oil for purchase in June for $68 per barrel. Direct labor budgeted in the chemical process was $147,700 for June. Factory overhead was budgeted at $221,500 during June. The inventories on June 1 were estimated to be: Oil P1 P2 Work in process $10,300 6,900 5,900 8,600 The desired inventories on June 30 were: Oil P1 $11,400 6,400 2 P2 Work in process 5,600 8,900 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