Cost of goods sold budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 19,600 barrels of oil for purchase in June for $61 per barrel. Direct labor budgeted in the chemical process was $143,500 for June. Factory overhead was budgeted at $215,200 during June. The inventories on June 1 were estimated to be: Oil P1 P2 Work in process The desired inventories on June 30 were: Oil $11,000 6,200 5,500 8,600 P1 P2 Work in process $10,000 6,700 5,700 8,300 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 Line Item Description Amount Amount Amount Direct materialer
Cost of goods sold budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 19,600 barrels of oil for purchase in June for $61 per barrel. Direct labor budgeted in the chemical process was $143,500 for June. Factory overhead was budgeted at $215,200 during June. The inventories on June 1 were estimated to be: Oil P1 P2 Work in process The desired inventories on June 30 were: Oil $11,000 6,200 5,500 8,600 P1 P2 Work in process $10,000 6,700 5,700 8,300 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 Line Item Description Amount Amount Amount Direct materialer
Chapter1: Financial Statements And Business Decisions
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![Line Item Description Amount Amount Amount
Direct materials:
tA
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F02bab8e4-70fd-4d88-9504-f82fc904c572%2F10fb4867-e96f-419e-9715-38ff58741889%2Fw6e6qy6_processed.png&w=3840&q=75)
Transcribed Image Text:Line Item Description Amount Amount Amount
Direct materials:
tA
$
![Cost of goods sold budget
Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 19,600 barrels of oil for purchase in June for $61 per barrel. Direct labor
budgeted in the chemical process was $143,500 for June. Factory overhead was budgeted at $215,200 during June. The inventories on June 1 were estimated to be:
$10,000
6,700
P2
5,700
Work in process
8,300
The desired inventories on June 30 were:
Oil
P1
Oil
P1
P2
Work in process
$11,000
6,200
5,500
8,600
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
Line Item Description Amount Amount Amount
Direct materials:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F02bab8e4-70fd-4d88-9504-f82fc904c572%2F10fb4867-e96f-419e-9715-38ff58741889%2Fdfu1rms_processed.png&w=3840&q=75)
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 19,600 barrels of oil for purchase in June for $61 per barrel. Direct labor
budgeted in the chemical process was $143,500 for June. Factory overhead was budgeted at $215,200 during June. The inventories on June 1 were estimated to be:
$10,000
6,700
P2
5,700
Work in process
8,300
The desired inventories on June 30 were:
Oil
P1
Oil
P1
P2
Work in process
$11,000
6,200
5,500
8,600
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
Line Item Description Amount Amount Amount
Direct materials:
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