Union Chemical Company uses oil to produce two types of plastic products, P1 and P2. Union purchased 25,000 barrels of oil in April for $30 per barrel. Direct labor used in the chemical process was $140,000 for April. Factory overhead totaled $250,000 during April. The inventories on April 1 were estimated to be:
Oil . . . . . . . . . . . . . . . . $14,200
P1 . . . . . . . . . . . . . . . . . 8,300
P2 . . . . . . . . . . . . . . . . . 9,100
Work in process . . . . . . . 12,300
The desired inventories on April 30 were:
Oil . . . . . . . . . . . . . . . . $12,100
P1 . . . . . . . . . . . . . . . . . 8,500
P2 . . . . . . . . . . . . . . . . . 9,900
Work in process . . . . . . . 10,300
Use the preceding information to prepare a cost of goods sold budget for April.