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Hello, please help me with this, I continue to get it incorrect. Act 202 Milestone Three: Actual Cost: and Revenue Data Appendix At the end

Hello, please help me with this, I continue to get it incorrect.

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Act 202 Milestone Three: Actual Cost: and Revenue Data Appendix At the end of the rst month of opening your business, you calculate the actual operating costs ofthe business and the incomel 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 oust of goods said, use the following data regarding the actual costs incurred by the business over the past month: I Materials purchased: $21,090 0 Consumed 30% afthe purchased materials I Direct labor: 58,493 I Overhead costs: $5,755 Note: Assume that the beginning materials and ending work in process are zero for the month. Use the followng revenue and cost information for the inoome statement. Note that the revenue you use will depend on the pricing level options you chose in Milestone Two. Atso, assume that alter accounting for weekends and other holidays, there were 20 business days in the rst month of one iation. For example, if you chose a sales price of $20 per collar, the actual number ofoollars sold in the month was 33 per day or 35 )l 20: 660 per month. Established Sales Price Number 0'! Items Sold per Day Endlars s20 33 $24 28 $28 23 Leashes $22 23 $25 23 $30 18 Harnesses $25 25 $30 21 $35 20 The other costs incurred by the businas include: I General and administrative salaries o Receptionist: $1,950 I Ofce supplies: $200 I Other business equipment: $150 Variance At the end ot the month, you nd that the labor and materials spent on manufacturing collars was different from what you estimated: I The collar maker had to work nine hours a day instead of eight due to an increased demand for collars. I Because at the increased demand, the hourly rate you paid your employee for making the collars increased to $16.50. I An increase in the cost of raw material led the direct material cost per coliarto increase to $10. I However, you also made and sold 60 more collars than you expected to seli in the month. You now need to determine the variant: in the materiais and labor cm From what you estimated in Milestone Two based on the market research data. -A stone Three - Inoonle Stein-neat Revenue: Collars Leashes Harnesses Total Revenue: Cost of goods sold Gross prot strative salaries Office supplies Other business equipment Total Expenses Net Income! Loss

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