As long as the organization is making good progress toward achieving an ideal standard, its management may not need to: Take any corrective action if the variance for the period is large. Curtail spending on variable costs. Modify its standards. Take any corrective action when variances are reported, even if the variances for the period are substantial in amount. Curtail spending on fixed costs.

Take any corrective action when variances are reported, even if the variances for the period are substantial in amount

Explanation:

When organizations are making progress, the management may not need to impose some measures but allow the measures which was already in place for the success to keep playing out. One of the measures the management doesn't need to consider when making good progress to success is taking any corrective action when variances are reported, even if the variances for the period are substantial in amount

1. Decrease

Explanation:

Gross profit percentage is the amount of money earned from the sales of goods or rendering of services expressed in percentages. It is the amount earned expressed in percentage after removing the total cost of production from revenue earned.

Formula for calculating

= (Gross profit/Total sales) × 100.

Thus, when there's a decrease in the price of goods with the cost of producing that goods remaining constant, the gross profit percentage decreases. Also, when there's an increase in price with cost remaining constant, the gross profit also increases.