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

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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:
$
$
$
$
$
$
$

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