Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2, Delaware budgeted 14,700 barrels of oll for purchase in June for $72 per barrel. Direct labor budgeted in the chemical process was $127,000 for June. Factory overhead was budgeted at $190,500 during June. The inventorles on June 1 were estimated to be: The desired inventories on June 30 were: 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. For the Month Ending June 30