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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Line Item Description Amount Amount Amount Direct materials: tA $
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:
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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