Actually, there is no “correct” directory structure. One of the great strengths of WordPress is how many options exist for configuration. Tricks like using a local config file, for example, allow you to work in so many different ways.
That being said, what you have outlined is a very standard file structure and should suit you just fine.
If you do not want the /wp/ portion of your file system in your site URL, take a look at Giving WordPress its own directory
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