Can someone check my work?

At the end of the first month of opening your business, you calculate the actual operating costs of the business and the income you earned. You also notice and document the difference in what you budgeted for certain materials and labor against the actual amounts you spent on the same. For your statement of cost of goods sold, use the following data regarding the actual costs incurred by the business over the past month: . Materials purchased: $20,000 o Consumed 80% of the purchased materials Direct labor: $8,493 Overhead costs: $3,765 Note: Assume that the beginning materials and ending work in process are zero for the month. Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing level options you chose in Milestone Two. Also, assume that after accounting for weekends and other holidays, there were 20 business days in the first month of operation. For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 33 x 20 = 660 per month. Established Sales Price | Number of Items Sold per Day Collars $20 33 $24 28 $28 23 Leashes $22 28 $26 23 $30 18 Harnesses $25 25 $30 22 $35 20 The other costs incurred by the business include: General and administrative salaries o Receptionist: $1,950 Office supplies: $200 Other business equipment: $150Variance At the end of the month, you find that the labor and materials spent on manufacturing collars was different from what you estimated: The collar maker had to work nine hours a day instead of eight due to an increased demand for collars. Because of the increased demand, the hourly rate you paid your employee for making the collars increased to $16.50. An increase in the cost of raw material led the direct material cost per collar to increase to $10. However, you also made and sold 60 more collars than you expected to sell in the month. You now need to determine the variance in the materials and labor cost from what you estimated in Milestone Two based on the market research data.X Cut Calibri 10 ~ A A Merge & Center [A Copy BIUV F - J. A - Paste Format Painter Alignment Font Clipboard E16 X V D E F B C A Milestone Three - Statement of Cost of Goods Sold 6 Beginning Work in Process Inventory 7 Direct Materials: Materials: Beginning $ 20,000 (20000x20%) 4000 Add: Purchases for month of January Materials available for use 20,000 11 12 Deduct: Ending materials (4,000) Materials Used 16,000 14 15 Direct Labor 8,493 16 Overhead 3,765 18 Total Costs S 28,258 19 20 Deduct: Ending Work in Process Inventory 0 21 22 Cost of Goods Sold S 28,258 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56AutoSave On . View Help Page Layout Formulas Data Review File Home Insert ab Wrap Text & Cut 10 ~ A A Calibri Merge & Center ~ LO E EE [A Copy Paste Format Painter Alignment Font Clipboard X V 13200 86 E F B C D 2 Milestone Three - Income Statement Revenue: $ 13,200 Collars 12,320 Leashes 12,500 Harnesses 9 38,020 10 Total Revenue: 11 Cost of goods sold 28,258) 12 Gross profit $ 9,762 13 14 Expenses: 15 General and administrative salaries S 2,450 B15+816+817=c19 16 Office supplies 200 17 Other business equipment 150 18 19 Total Expenses $ 5,175.00 20 21 Net Income/Loss $ 22 23 24 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51ACC 202 Project Workbook.XI AutoSave on . He Data Review View Help Page Layout Formulas File Home Insert ab Wrap Text General A A & Cut Calibri 10 Merge & Center $ ~ % " [A Copy E Paste BIUV - M Av Number Format Painter Alignment Font Clipboard K30 X E F G D B C 1 2 Milestone Three - Variance Analysis 5 Data for Variance Analysis: Budgeted Budgeted Actual Actual (Standard) (Standard) Hours/Qty Rate Hours/Qty Rate 7 160 $ 16.00 180 $ 16.50 Labor 9 10 660 $ 9.10 660 Is 10.00 11 Materials 12 13 14 15 Variances for Collar Sales Favorable/ 16 Variance Unfavorable 17 Direct Labor Time Variance 18 (Actual Hours - Standard Hours) x Standard Rate S 320.00 Unfavorable 19 20 Direct Labor Rate Variance 21 (Actual Rate - Standard Rate) x Actual Hours S 90.00 Unfavorable 22 23 Direct Materials Quantity/Efficiency Variance 24 (Actual Quantity - Standard Quantity) x Standard Price S 546.00 Unfavorable 25 26 Direct Materials Price Variance 27 (Actual Price - Standard Price) x Actual Quantity S 594.00 28 Unfavorable 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50