I wasn't provided with any flexible budget amounts. I am very confused by this

Investigating Variances. Company produces goods sold at a variety of retail stores hroughout the world. Standard cost information for each good is presented as follows: Direct materials Direct labor Variable overhead Total $60.00 40.00 30.00 S130.00 Company produced and sold 100,000 goods for the year and encountered the following roduction variances: Direct materials price (300,000) Favorable variance Direct materials quantity Direct labor rate variance Direct labor efficiency 290,000 Unfavorable (170,000) Favorable (140,000) Favorable Variable overhead spending 150,000 Unfavorable (210,000) Favorable (380,000) Favorable Variable overhead efficien variance Total variable production cost variance Company policy is to investigate all unfavorable variances above 5 percent of the flexible budget amount for direct materials, direct labor, and variable overhead. 1. Identify the variances that should be investigated according to company policy. Show calculations to support your answer What recommendations would you make for the company's current policy? Identify the highest favorable variance and highest unfavorable variance and provide one possible cause of each variance. Benjamin Frank, the manager at company, reviewed the company's variance analysis report. The materials price variance of $(300,000) was the most significant favorable variance for the month, and the materials quantity variance of $290,000 was the most significant unfavorable variance. Benjamin would like to reward the company's purchasing agent for achieving such substantial savings by giving him a $2,000 bonus while not providing any bonus for the production manager 2. 3. 4. Do you agree with Benjamin's approach to awarding bonuses? Explain. What circumstances might lead to the conclusion that the purchasing agent should not receive a bonus