Compare the actual cost of goods sold over the last month and evaluate the companys performance against the budgeted benchmarks. Are the numbers close to what you expected? Interpret the performance and explain what happened.

Milestone Three - Statement of Cost of Goods Sold S $ Beginning Work in Process Inventory Direct Materials: Materials: Beginning Add: Purchases for month of January Materials available for use Deduct: Ending materials Materials Used Direct Labor Overhead Total Costs 0 20,000 20,000 4,000 16,000 8,493 3,765 28,258 $ Deduct: Ending Work in Process Inventory 0 Cost of Goods Sold $ 28,258