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 $400,000 during June. The inventories on June 1 were estimated to be:

The desired inventories on June 30 were:

Compute the cost of Goods Sold Budget for D.C. Company:

Transcribed Image Text:

Oil ...... P1..... P2...... Work in process... $15,200 8,300 8,600 12,900 Oil ...... P1...... P2...... Work in process $16,100 9,400 7,900 13,500 Oil ...... P1..... P2...... Work in process... $15,200 8,300 8,600 12,900 Oil ...... P1...... P2...... Work in process $16,100 9,400 7,900 13,500

Answer rating: 100% (QA)

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