Glassmaster Company is organized as two divisions and one subsidiary. One division focuses on the manufacture of filaments such as fishing line and sewing thread; the other division manufactures antennas and specialty fiberglass products. Its subsidiary manufactures flexible steel wire controls and molded control panels.
The annual report of Glassmaster provides the following information.
Instructions
(a) Is it apparent from the information whether Glassmaster utilizes
(b) Do you think the price variance experienced should lead to changes in standard costs for the next fiscal year?
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