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: EM132716702

Problem - Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oil for purchase in June for $90 per barrel. Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted at $400,000 during June. The inventories on June 1 were estimated to be:

Oil $15,200

P1 8,300

P2 8,600

Work in process 12,900

The desired inventories on June 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 June.

Reference no: EM132716702

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Prepare a cost of goods sold budget for June

Reference no: EM132716702

Reference no: EM132716702

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