Dynondo incorporated planned to use materials of 8 per unit but actually used materials of $16 per unit, and planned The fiexibie-budget varlanje for materials is O $14,160 fevorable O $13,120 tavorable O $13.120 untavoratle O $14.160 untavorable

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.