**Cost of Goods Sold Budget**Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,000 barrels of oil for purchase in June for $73 per barrel. Direct labor budgeted in the chemical process was $132,900 for June. Factory overhead was budgeted at $184,000 during June. The inventories on June 1 were estimated to be:- Oil: $9,300- P1: $6,200- P2: $5,300- Work in process: $7,700The desired inventories on June 30 were:- Oil: $10,200- P1: $5,700- P2: $5,100- Work in process: $8,000Use 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*- The document features a form layout with dropdowns and input fields for financial data related to the budget preparation.- There are spaces to input monetary values for various budget categories, including direct materials and other financial entries. These fields are likely meant to organize and calculate the total cost of goods sold.The purpose of this form is to facilitate accurate budgeting by incorporating starting inventories, purchases, expenses, and desired ending inventories into a cohesive financial document.

Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,000 barrels of oil for purchase in June for $73 per barrel. Direc labor budgeted in the chemical process was $132,900 for June. Factory overhead was budgeted at $184,000 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 P1 $9,300 6,200 5,300 7,700 P2 Work in process $10,200 5,700 5,100 8,000 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.

Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 14,000 barrels of oil for purchase in June for $73 per barrel. Direc labor budgeted in the chemical process was $132,900 for June. Factory overhead was budgeted at $184,000 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 P1 $9,300 6,200 5,300 7,700 P2 Work in process $10,200 5,700 5,100 8,000 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.

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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