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

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the journals needed to record the transactions

The consumer has made a payment by transfer of IDR 2,500,000.00. Prepare the journals needed to record the transactions

  Calculate direct material quantity variance for September

The variable overhead spending variance was $7,497 favorable. Calculate the direct material quantity variance for September

  In december 2009 the state of tennessee filed suit against

the following selected transactions relate to provisions orcontingencies of classical tool makers inc. which

  What is Cato recognized gain or loss

In a qualifying reorganization, Cato exchanges $1,200,000 worth of stock and property valued at $500,000. What is Cato recognized gain or loss

  Formulate evidence-gathering procedures audit program

to be proficient as an auditor a person must first be able to accomplish which of these tasks in a decision-making

  Evaluating and recommending an ais module

List of criteria you used in choosing a module. Include financial criteria, expansion and growth criteria and current needs. Be sure to address internal control

  One company is a high end retailer

One company is a high end retailer, and the other operates a discount store. Which is the discounter? Support your selection by referring to the appropriate ratios.

  Provide summary of articles

Business news articles (originals or copies) onwards only. Articles MUST be from English-language local or international newspapers, electronic/on-line or printed/hard copy.

  What is impairment

What is impairment? What impairment should be recorded in the accounts of Meow Plc for the listed shares and the three year bond

  Why are adjustments needed at the end of accounting period

Why are adjustments needed at the end of an accounting period? Identify the four different categories of adjustments frequently required at the end of an accounting period.

  Prepare an accrual-based income statement for racey

Racey has prepared an income statement for the 12-month, Prepare an accrual-based income statement for Racey for the period ended 30 June.

  According to the textbook frauds can be classified by

according to the textbook frauds can be classified by victim by perpetrator and by scheme. but the textbook only

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd