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:
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:
Chapter1: Financial Statements And Business Decisions
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Cost of Goods Sold Budget
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:
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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:
Previ
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