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 $3320=660$ per month.

The other costs incurred by the business inelude:

General and administrative salaries

Receptionist: $$1,950$

Office supplies: $$200$

Other business equipment: $$150$