Hi! New here... does this sound right?

Hey all:

Just joined MFP aiming to lose approx 40 or so pounds of weight after having baby #4 (and also want to build some muscle back -definately dont want to be "skinny fat" )

I am 5'5 and 172.
30 years old.

I am currently trying to get at least one hour of "workout" a day - right now is is either a fast walk through soft sand on the beach, hard bikeride, yoga, JM ripped in 30, a circuit of bodyweight squats/pushups/planks/lunges/sprints...
My workouts arent super intense right now, or very structured, just trying to spend the first few weeks of this journey getting in the habit of moving my butt every day (hoping by Aug 1st to have an actual structured, intense, hard-core workout plan figured out).

MFP has me at 1200 calories a day, to loose 2 pounds a week.
My workout usually comes up to around 350 cals (give or take 100) and I am eating my workout cals back.

I do measure / weigh food intake, and understand that my workout cals can be off from what MFP says they burn.
I do go over by a bit sometimes, but not a lot.

So, does this sound right?
Does it seem that I should loose some weight (bodyfat) by
-eating 1200 cals
-burning approx 350 cals in a daily workout, and eating those cals back

I will open my diary, but just started (and took the 4th off) so there is only 3 1/2 days recorded so far)
Just want to make sure I am on the right track to start, and will obviously adjust as needed per upcoming results.

Thanks!