The Vermont Company has requested a performance report that reports both sales activity variances and flexible budget variances. The following table of information is provided:
Required:Compute and enter variances in columns 3 and 6. In column 3, enter the variance (difference) between column 2 and column 5; in column 4, label the variance as favorable (F) or unfavorable (U). In column 6, enter the variance between columns 5 and 8, and in column 7 indicate whether this variance is favorable or unfavorable.Which column contains sales volume variances and which column contains flexible budget variances?Comment on this company's performance.
Definitions:
Six Sigma
A data-driven approach and methodology for eliminating defects in any process, aiming to improve the quality of the output of a process by identifying and removing the causes of errors.
ISO 9000
A set of international standards for quality management and quality assurance designed to help companies ensure they meet customer and other stakeholder needs.
North American Free Trade Act (NAFTA)
An agreement among the United States, Canada, and Mexico designed to remove tariff barriers between the three countries.
Average Wages
The median salary earned by workers in a specific job, industry, or geographical area, calculated by dividing the total wages by the number of wage earners.
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