Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 23,500 barrels of oil for purchase in June for $61 per barrel, Direct labor budgeted in the chemical process was $172,000 for June. Factory overhead was budgeted at $258,000 during June. The inventories on June 1 were estimated to be: Oil P1 $12,000 8,100 6,900 Work in process 10,000 The desired inventories on June 30 were: $13,200 7,400 6,500 10,300. P2 Onl PL P2 Work in process 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: 00
Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 23,500 barrels of oil for purchase in June for $61 per barrel, Direct labor budgeted in the chemical process was $172,000 for June. Factory overhead was budgeted at $258,000 during June. The inventories on June 1 were estimated to be: Oil P1 $12,000 8,100 6,900 Work in process 10,000 The desired inventories on June 30 were: $13,200 7,400 6,500 10,300. P2 Onl PL P2 Work in process 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: 00
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Cost of Goods Sold Budget
Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 23,500 barrels of oil for purchase in June for $61 per barrel, Direct
labor budgeted in the chemical process was $172,000 for June. Factory overhead was budgeted at $258,000 during June. The inventories on June 1 were estimated to be:
Oil
PI
$12,000
8,100
P2
6,900
Work in process
10,000
The desired inventories on June 30 were:
$13,200
7,400
6,500
10,300
Cal
PL
P2
Work in process
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:
00001
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