Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. Dover budgeted
Question:
$275,000 during June. The inventories on June 1 were estimated to be:
Oil . . . . . . . . . . . . . . . . . . . . . . . . $15,300
P1 . . . . . . . . . . . . . . . . . . . . . . . . . . 8,700
P2 . . . . . . . . . . . . . . . . . . . . . . . . . . 9,200
Work in process . . . . . . . . . . . . . . 11,800
The desired inventories on June 30 were:
Oil . . . . . . . . . . . . . . . . . . . . . . . . $12,200
P1 . . . . . . . . . . . . . . . . . . . . . . . . . . 8,300
P2 . . . . . . . . . . . . . . . . . . . . . . . . . . 9,500
Work in process . . . . . . . . . . . . . . 10,700
Use the preceding information to prepare a cost of goods sold budget for June.
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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