Wilmington Chemical Company uses oil to produce two types of plastic products, P1 and P2. Wilmington budgeted 50,000 barrels of oil for purchase in June for $50 per barrel. Direct labor budgeted in the chemical process was $300,000 for June. Factory overhead was budgeted $500,000 during June. The inventories on June 1 were estimated to be:

Oil	$15,500
P1	25,400
P2	22,900
Work in process	3,400

The desired inventories on June 30 were:

Oil	$16,100
P1	28,500
P2	25,000
Work in process	4,000

Use the preceding information to prepare a cost of goods sold budget for June.

Wilmington Chemical Company
Cost of Goods Sold Budget
For the Month Ending June 30
			$
		$
Direct materials:
	$
	$
	$
		$
			$
			$