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Overview: In the third milestone, you will jump forward in time: Imagine that your business has already opened. Use the updated scenario information to analyze your company's performance. Post-opening Scenario: Your angel investors are silent in relation to the business; however, they require board meetings for status updates on the company's financial health. Therefore, you need to analyze your company's performance over the last month using the data provided below. Note: Your instructor will create an announcement sharing the income statement data by the end of Module Four. All of the data you need for the cost-of- services statement can be found in the "COS Schedule" tab of your workbook For your variance analysis, use the following financial data Direct Materials/Labor Original Projection 1000 ounces ($2/groom) 1.5 hrs/groom @ $12 Actual 1200 ounces ($3/groom) 2.25 hrs/groom @ $11.50 Shampoo Grooming Labor Prompt: Complete your work by assessing your company's financial performance, specifically addressing the following critical elements Financial Statements o Create a statement of cost of services in the "COS Schedule" tab o Create an income statement in the "Income Statement" tab Variance Analysis o o Identify all variances for the direct labor time and the materials price in the "Variances" tab. Evaluate the significance of the variances in the "Variances" tab Incorporate all feedback from previous milestones to finalize your workbook

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