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:
1) 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.2) Which column contains sales volume variances and which column contains flexible budget variances?
3) Comment on this company's performance. 
Definitions:
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