Quality Tables Inc. produces high-end coffee tables. Standard cost information for each table is presented below. Quality
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Quality Tables Inc. produces high-end coffee tables. Standard cost information for each table is presented below.
Quality Tables produced and sold 2,000 tables for the year and encountered the following production variances:
Required
Company policy is to investigate all unfavorable variances above 10 percent of the flexible budget amount for direct materials, direct labor, and variable overhead.
a. Identify the variances that should be investigated according to company policy. Show calculations to support your answer.
b. What potential weakness exists in the company’s current policy?
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