Question

Do You Know Variance Analysis With Example?

Answer 1

Variance analysis can be summarized as an analysis of the difference between planned and actual numbers. ... For example, if the actual cost is lower than the standard cost for raw materials, assuming the same volume of materials, it would lead to a favorable price variance (i.e., a cost savings).

Answer 2

Variance Analysis can be summarized as an analysis of the different between planed and actual numbers.