Solution-Prepare a cost of goods sold budget for june

Prepare a cost of goods sold budget for june

Assignment Help Accounting Basics

Reference no: EM133080753

Question - Cost of Goods Sold Budget - Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 17,200 barrels of oil for purchase in June for $65 per barrel. Direct labor budgeted in the chemical process was $145,300 for June. Factory overhead was budgeted at $201,200 during June. The inventories on June 1 were estimated to be:

Oil $10,200

P1 6,800

P2 5,800

Work in process 8,400

The desired inventories on June 30 were:

Oil $11,200

P1 6,200

P2 5,500

Work in process 8,700

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.

Reference no: EM133080753

Questions Cloud

Prepare the operating activities section of the statement : Tabele Limited reported a net income of $428,000 for the year ended December 31, 2022. Prepare the operating activities section of the statement

Prepare the journal entries to record these transactions : Purchases of merchandise on account during the year totaled $905,000. Prepare the journal entries to record these transactions

Analysis of the UK Corporate governance regulatory landscape : Conduct a critical analysis of the UK Corporate governance regulatory landscape. You are required to use relevant authorities to produce a 2000 words report

What amount of inventory will armada report at year end : During the year, Armada ships inventory with a cost of $112,500 to Alpine Sports. What amount of inventory will Armada report at year end

Prepare a cost of goods sold budget for june : Delaware budgeted 17,200 barrels of oil for purchase in June for $65 per barrel. Prepare a cost of goods sold budget for June

Supply and demand of a good or service : Find a current article that describes the supply and demand of a good or service.

What should be the reported value of the company inventory : Waldo & Sons Co. has determined its year-end inventory on a LIFO basis to be $606,000. What should be the reported value of the company inventory

Discuss the macroeconomic indicators of usa : Briefly discuss the macroeconomic indicators of USA, such as Inflation and unemployment. You need to mention the relevant theory to explain the relationship amo

Calculate the cost of budgeted ending inventory : Each chair takes $16 of direct materials and uses 1.9 direct labor hours at $18 per direct labor hour. Calculate the cost of budgeted ending inventory

User Account

All Pages

Prepare a cost of goods sold budget for june

Reference no: EM133080753

Reference no: EM133080753

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT