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Prepare a cost of goods sold budget for April

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Reference no: EM132881805

Problem - Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. Dover budgeted 30,000 barrels of oil for purchase in April for $78 per barrel. Direct labor budgeted in the chemical process was $240,000 for April. Factory overhead was budgeted $375,000 during April. The inventories on April 1 were estimated to be:

Oil $15,800

P1 9,800

P2 8,900

Work in process 12,100

The desired inventories on April 30 were:

Oil $16,100

P1 9,400

P2 7,900

Work in process 13,500

Use the preceding information to prepare a cost of goods sold budget for April 2013.

Reference no: EM132881805

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