1) Arrange a profit-variance report. Develop an analysis which explains David's performance for the year ended December 31, 2016.

2. Calculate and provide a concise interpretation of each variance.

a) Price and efficiency variances for materials and labor.

b) Spending and product volume variances for fixed overhead costs.

3. Suggest 2-3 non-financial measures for evaluating the store's performance and briefly discuss how they will complement the financial performance information.