A variance is the difference between a budgeted, planned, orstandard cost and the actual...

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Accounting

A variance is the difference between a budgeted, planned, orstandard cost and the actual amount
incurred/sold. Variances can be computed for both costs andrevenues. Identify and explain the types
of 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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Answer Variance analysis is basically the difference between the budgeted and the actual numbers The sum of all variance gives report of performance of the company for the reporting period The various types of variance are as follows Revenue Variance Sales See Answer

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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