Solution-Prepare a cost of goods sold budget for June

Prepare a cost of goods sold budget for June

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Reference no: EM133088118

Question - Cost of Goods Sold Budget - Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 20,400 barrels of oil for purchase in June for $59 per barrel. Direct labor budgeted in the chemical process was $144,400 for June. Factory overhead was budgeted at $216,600 during June. The inventories on June 1 were estimated to be:

Oil $10,100

P1 6,800

P2 5,800

Work in process 8,400

The desired inventories on June 30 were:

Oil $11,100

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: EM133088118

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Prepare a cost of goods sold budget for June

Reference no: EM133088118

Reference no: EM133088118

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