Delaware Chemical Company uses oll to produce two types of plastic products, P1 and P2. Delaware budgeted 22,100 barrels of oil for purchase in June for $64 per barrel. Direct labor budgeted in the chemical process was $155,600 for June. Factory overhead was budgeted at $254,600 during June. The inventories 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. Line Item Description Finished goods inventory, June 1v Work in process inventory, June 1 v v Direct materiais: Direct materials inventory, June 1v Direct materials purchases Cost of direct materials avallable for use v Direct materials inventory, June 30 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period v Work in process inventory, June 30 v Cost of aoods manufactured v Cost of finished coods avoilable for sale Einished goods inventory, June 30 Einished goods inventory, June 30 Amount Amount Amount Cost of aoods sold