Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. delaware chemical company uses oil to produce two

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2....

70.2K

Verified Solution

Question

Accounting

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,700 barrels of oil for purchase in June for $75 per barrel. Direct labor budgeted in the chemical process was $132,300 for June. Factory overhead was budgeted at $198,500 during June. The inventories on June 1 were estimated to be:

Oil $9,300
P1 6,200
P2 5,300
Work in process 7,700

The desired inventories on June 30 were:

Oil $10,200
P1 5,700
P2 5,000
Work in process 7,900

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.

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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Problem 43 Calculate the average volume available to a molecule in a sample of N...

Biology
1.2K views

17 SWYK DIST Individuals can have spe True

Basic Math
1.2K views

Emma's Pet Shop sells aquariums in the shape of a right rectangular prism. Eachaquarium measures...

Calculus
1.2K views

If the definite integral e da is first approximated by using two inscribed f rectangles...

Accounting
1.2K views

Luzadis Company makes furniture using the latest...

Accounting
1.2K views

Larkspur Inc owns equipment that $549000 and has accumulated depreciation of $142,000. The expected future...

Accounting
1.2K views

Westfall Watches has two product lines: Luxury watches and Sporty watches. Income statement data for...

Accounting
1.2K views

The major difference between unsupervised vs supervised data mining is that in supervised data mining,...

Accounting
1.2K views

! Required information [The following information applies to the questions displayed below.] Henna...

Accounting
1.2K views

E12-3 Matching Terms LO 12-1, 12-2, 12-3, 12-4, 12-5, 12-6, 12-7, 12-8 Match the items...

Accounting
1.2K views

The Foundational 15 (Algo) [LO6-1, LO6-2, LO6-3, LO6-4, LO6-5] [The following information applies to the...

Finance
1.2K views

Calculate the following, please show the formula... PLEASE SHOW THE FORMULA. 2011 Year T-9...