Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 30,000 barrels of oil for purchase in June for $68 per barrel. Direct labor budgeted in the chemical process was $224,400 for June. Factory overhead was budgeted at $367,200 during June. The inventories on June 1 were estimated to be:

Oil	$15,700
P1	10,500
P2	9,000
Work in process	13,000

The desired inventories on June 30 were:

Oil	$17,300
P1	9,600
P2	8,500
Work in process	13,500

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 uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 30,000 barrels of oil for purchase in June for $68 per barrel. Direct labor budgeted in the chemical process was $224,400 for June. Factory overhead was budgeted at $367,200 during June. The inventories on June 1 were estimated to be: Oil $15,700 P1 10,500 P2 9,000 Work in process 13,000 The desired inventories on June 30 were: Oil $17,300 P1 9,600 P2 8,500 Work in process 13,500 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 Finished goods inventory, June 1 Work in process inventory, June 1 Direct materials: Direct materials inventory, June 1 Direct materials purchases Cost of direct materials available for use Direct materials inventory, June 30 Ild101 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period $ Work in process inventory, June 30 Cost of goods manufactured Cost of finished goods available for sale 1000 Finished goods inventory, June 30 Cost of goods sold