How to form such goods correctly?

Question

Online shopping

Good afternoon. I am doing a small IM, the question arose about the correctness of creating goods that have a certain set of attributes.
Here is an example:

A product has attributes:

• size (2 years, 3 years, 4 years, 5 years)
  
• color (red, yellow, green...).
  

How to create such a product, so that later everything can be correctly added to the basket and processed?
I create a variable product, add attributes to it on the "attributes" tab, and then generate variations from them on the "variations" tab. But there can be up to 50-70 variations. Am I doing everything right? Or is there a better way?