Statement of Cost of Goods Sold

Milestone Three $-$ Statement of Cost of Goods Sold

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

$\backslash$table$[[$$$,20,000,],[,20,000,],[,4,000,],[,,16,000],[,,8,493],[,,3,765],[,,28,258]]$

Deduct: Ending Work in Process Inventory

Cost of Goods Sold

$$,28,258$

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