Definition of variance analysis, Cost Accounting

Definition of Variance Analysis

Variance analysis can merely be defined like the process of analyzing the difference between the actual cost and the standard cost this variation is called the variance into its constituent parts. The purpose of variances is determined and management can take suitable measures.

Posted Date: 2/7/2013 6:05:37 AM | Location : United States

Related Discussions:- Definition of variance analysis, Assignment Help, Ask Question on Definition of variance analysis, Get Answer, Expert's Help, Definition of variance analysis Discussions

Write discussion on Definition of variance analysis
Your posts are moderated
Related Questions
1. The table below gives data for Southland where there are three consumption goods: bananas, coconuts and grapes. Goods Quantity in base period basket

what are the concept and objectives of cost accounting?

What are the factors affecting working capital requirements

You are a beginner accountant with a large accountancy firm and a training day has been organised to update all technical staff on a range of topics across numerous technical disci

The government of a small South Pacific island is considering whether to allow development of a small but valuable deposit of phosphate rock. Not having the resources to develop an

CVP Analysis in Situations Subject To Change Revenue and Cost will change and also sales volume because of a number of factors involving: a) Increased competition may need

Walter manufactures a silicone paste wax that goes through three processing departments: cracking, blending, and packing. All raw materials are introduced at the start of work in t

Job Costing This is a costing method that is applied when a job or cost unit is relatively of small size, is undertaken to fit the customer's specifications and is of compara

The Bloomington Electric Company operates in a stable industry and therefore has predictable dividend growth of 8% per year. The most recent annual dividend was paid yesterday in t

DEF Municipality uses a standard absorption costing system to control the cost of one of its services, namely the supply of water to its constituents. The fixed budget for the reti