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In: AccountingA variance is the difference between a budgeted, planned, orstandard cost and the actual amount...A variance is the difference between a budgeted, planned, orstandard cost and the actual amountincurred/sold. Variances can be computed for both costs andrevenues. Identify and explain the typesof variance analysis tools, which can be used in a productiondepartment of a manufacturing company,which specialises in spare parts for cars
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