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Discuss the accuracy of the expenses recorded for the period

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Reference no: EM131382080

Pyramid Printing Company is a printer of magazines and retail inserts. Pete Roberts, the company controller, initiates inquiry regarding what has surfaced as a large material variance for the month of April 2015. After inquiring of the production department, it was discovered that a number of copies of an insert for a major retailer's holiday promotion were out of register and discarded. Pete then notes these were not properly recorded as spoilage, in order to deflect attention from quality issues.

What are the ramifications of reporting the quality-impaired product as a material variance rather than spoilage? Discuss the accuracy of the expenses recorded for the period as well as any relevant ethical issues.

Reference no: EM131382080

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