In general, variance analysis is said to provide information about _________ and __________ variances.

In general, variance analysis is said to provide information about _ and __ variances.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 17Q

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Question

In general, variance analysis is said to provide information about _________ and __________ variances.

Definition Definition Analysis of a difference between planned and actual behavior. After analyzing differences, companies find the reasons for variance so that the necessary steps should be taken to correct that variance.

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