Can someone verify that i am doing this correctly please? I am supposed to be calculating the cost of goods and the beginning work in process.

AutoSave On ACC 202 Proxect WorkbookSaved Search (Altea) Fle insert Home Draw Page Layout Formulas Data Review View Help Cabi 10 - A A = X D- 29 Custom Pante BLU- aA. 3 $ - % 828 co For Unde Font Numbe Clipboard Alignment C6 vix - fx 0 - - 2 Milestone Three - Statement of Cost of Goods Sold 0 20000 4,000 16,000 6 Beginning Work in Process lentory 7 Direct Materials: Materials Beginning 9 Add Purchases for month of January 11 Materials available for use 12 Deduct Ending materials 14 Materials Used 15 Direct labor 16 Overhead 18 Total Costs 19 20 Deduct: Ending Work in Process Inventory 21 22 Cost of Goods Sold 2 16,000 8,493 3,265 0 15 20 22 15 Cot Class Ready TV acceso Good to go Variable and the cost Contribution Margir Analyse Break-Even Analyst a hP 200 Milestone Three Actual Costs and Revenue Data Appendix (1) - Protected ViewSaved to this PC 0 o yout References Mailings Review View Help ernet can contain vie. Unless you need to edit it's safer to stay in Protected View Enable Editing ALL ZUL TESTone inree: HETUST LOSS and revenue watu Appendix 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 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. X Established Sales Price Number of items Sold per Day Collars $20 33 S24 28 $28 23 Leashes $22 28 $26 23 $30 18 Harnesses $25 25 $30 22