Universal Chemical Company uses oil to produce two types of plastic products, P1 and P2. Universal budgeted 30,300 barrels of oil for purchase in April for $68 per barrel. Direct labor budgeted in the chemical process was $226,600 for April. Factory overhead was budgeted $370,900 during April. The inventories on April 1 were estimated to be:

Oil........................................$15,900

P1..........................................10,700

P2............................................9,100

Work in process..........................13,100

The desired inventories on April 30 were:

Oil............................$17,400

P1................................9,700

P2...............................8,600

Work in process..............13,600

Use the preceding information to prepare a cost of goods sold budget for April 2017.

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Universal Chemical Company Cost of Goods Sold Budget For the Month Ending April 30, 2017 Finished goods inventory, April 1, 2017 Work in process inventory,Apri 1, 2017 Direct materials: Direct materials inventory, April 1, 2017 Direct materials purchases Cost of direct materials available for use Less direct materials inventory, April 30, 2017 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period Less work in process inventory, April 30, 2017 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, April 30, 201'7 Cost of goods sold