Question

how many types of a variance​

Answer 1

• there are two types of variances: When actual results are better than expected results given variance is described as favorable variance.

Cost Variances.

Material Variances.

Labour Variances.

Overhead (Variable) Variance.

Fixed Overhead Variance.

Sales Variance.

Profit Variance. Conclusion.

Answer 2

Variance can divided according to their nature or effect of the underlying amounts. When effect to variance is concerned, There are 2 types of Variance: When actual results are better than excepted results given variance is described as favourable Variance..

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