Cost of Goods Sold BudgetDelaware Chemical Company uses oll to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oll for purchase in June for$90 per barrel. Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted at $400,000 during June. Theinventories on June 1 were estimated to be:OllP1P2Work in processThe desired inventories3227P1P2Work in process$15,2008,3008,60012,900on June 30 were:$16,1009,4007,90013,500Use 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 aminus sign.Delaware Chemical CompanyCost of Goods Sold BudgetFor the Month Ending June 30 Delaware Chemical CompanyCost of Goods Sold BudgetFor the Month Ending June 30Direct materials:

Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oll for purchase in June for $90 per barrel, Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted at $400,000 during June. The inventories on June 1 were estimated to be: Oll P1 P2 Work in process The desired inventories Oll P1 P2 Work in process $15,200 8,300 8,600 12,900 on June 30 were: $16,100 9,400 7,900 13,500 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 minus sign. Delaware Chemical Company Cost of Goods Sold Budget. For the Month Ending June 30

Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oll for purchase in June for $90 per barrel, Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted at $400,000 during June. The inventories on June 1 were estimated to be: Oll P1 P2 Work in process The desired inventories Oll P1 P2 Work in process $15,200 8,300 8,600 12,900 on June 30 were: $16,100 9,400 7,900 13,500 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 minus sign. Delaware Chemical Company Cost of Goods Sold Budget. For the Month Ending June 30

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,300 units (solar panels) in July and 5,400 units in August. Each unit requires 4 hours of direct labor at a rate of $20 per hour. Prepare a direct labor budget for July. Units to produce MIAMI SOLAR Direct Labor Budget Direct labor hours needed Cost of direct labor July 4,300
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Direct Labor Cost Budget Donner Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: Junior Pro Striker Production budget 9,100 units 19,900 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.25 hour per unit 0.40 hour per unit Pro Striker 0.35 hour per unit 0.65 hour per unit The direct labor rate for each department is as follows: Forming Department $19.00 per hour Assembly Department $8.00 per hour Prepare the direct labor cost budget for March. Enter all amounts as positive numbers. DONNER RACKET COMPANY Direct Labor Cost Budget For the Month Ending March 31 Forming Department Assembly Department Houre rouirod for nrr Previous Next Check My Work Sign out O O 12:47