; Four commonly used performance measures that are derived from the historical accounting system are: 1. Material, Labor and Overhead variances 2. Gross Profit Margin 3. Cash Flows 4. Return on the investment in assets 5. Residual Income For each of the measures a. Describe how the measure is calculated. b. Describe the information provided by the measure and in which circumstance when one could use it in performance evaluation c. Explain the limitations of the information provided by each measure

looking for direction in particular for parts b & c