Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 25,700 barrels of oll for purchase in June for $73 per barrel. Direct labor budgeted in the chemical process was $206,400 for June. Factory overhead was budgeted at $337,700 during June. The inventories on June 1 were estimated to be: Oll $14,400 P1 9,700 P2 8,300 Work in process 12,000 The desired inventories on June 30 were: OF $15,900 P1 8,900 7,800 12,400 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 i ative 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
Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 25,700 barrels of oll for purchase in June for $73 per barrel. Direct labor budgeted in the chemical process was $206,400 for June. Factory overhead was budgeted at $337,700 during June. The inventories on June 1 were estimated to be: Oll $14,400 P1 9,700 P2 8,300 Work in process 12,000 The desired inventories on June 30 were: OF $15,900 P1 8,900 7,800 12,400 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 i ative 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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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 25,700 barrels of all for purchase in June for $73 per barrel.
Direct labor budgeted in the chemical process was $206,400 for June. Factory overhead was budgeted at $337,700 during June. The inventories on June 1 were estimated to
be:
Ol
P1
$14,400
9,700
8,300
Work in process
12,000
The desired inventories on June 30 were:
P2
01
P1
P2
Work in process
$15,900
8,900
7,800
12,400
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:
0000
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