Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 22,600 barrels of oil for purchase in June for $56 per barrel. Direct labor budgeted in the chemical process was $157,300 for June. Factory overhead was budgeted at $235,900 during 3une, The inventories on June 1 were estimated to be: The derired 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. sign. Delaware Chemical Company Cost of Goods Sold Budget For the Month Ending June 30 Line Item Description Amount Amount Amount Direct materials