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Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,700 barrels of oil for purchase in June

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,700 barrels of oil for purchase in June for $75 per barrel. Direct labor budgeted in the chemical process was $132,300 for June. Factory overhead was budgeted at $198,500 during June. The inventories on June 1 were estimated to be:

Oil $9,300
P1 6,200
P2 5,300
Work in process 7,700

The desired inventories on June 30 were:

Oil $10,200
P1 5,700
P2 5,000
Work in process 7,900

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:
$
$
$
$
$
$
$

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