Cost Variance

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Definitions

ANOVA Variance Analysis Standard Costing Budgetary Control Profit Variance Cost Variance Financial Performance

Variance analysis in standard costing and budgetary control examining sub-variances to understand the causes of differences between budgeted and actual figures in financial performance.

Definitions

Direct Materials Total Cost Variance

Direct Materials Cost Variance Price Variance Usage Variance Standard Cost Actual Cost Production Costs

A measurement that combines the direct materials price variance and the direct materials usage variance to compare actual and standard costs of direct materials consumed in actual production.