Cost of Goods Sold BudgetFor the Month Ending June 3060914Direct materials:¤¤¤Û$69 Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 28,400 barrels of oil for purchase inJune for $68 per barrel. Direct labor budgeted in the chemical process was $231,700 for June. Factory overhead was budgeted at $347,600 duringJune. The inventories on June 1 were estimated to be:$16,20010,9009,300Work in process13,400The desired inventories on June 30 were:OilP1P2OilP1P2Work in process$17,80010,0008,80013,900Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in which you must enter subtracted or negativenumbers use a minus sign.Delaware Chemical CompanyCost of Goods Sold BudgetFor the Month Ending June 30Direct materials:$

Name: Cost of Goods Sold BudgetFor the Month Ending June 3060914Direct mate
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Description: Cost of Goods Sold BudgetFor the Month Ending June 3060914Direct materials:¤¤¤Û$69 Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 28,400 barrels of oil for purchase inJune for $68 per barrel

A budget is a written record of an organization's future revenue, cost, and expenses. It gives an upcoming view of what the organization's performance will be in the upcoming period. The Presentation of costs of goods sold budget of the company DC is as follows- The excel formula snip-