answersLogoWhite

0


Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: What is a variance in food service?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What difference between a favorable variance and an unfavorable variance?

Favourable variance is that variance which is good for business while unfavourable variance is bad for business


What is the difference between negative price variance and volume variance?

Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.


What are the variances in a 4 variance analysis?

efficiency variance, spending variance, production volume variance, variable and fixed components


What factors causes Budget Variance?

There are 7 variances associated with a budget ( which are generally calculated for controlling purposes) 1- Material Price variance 2- Material Quantity variance 3- Labor rate variance 4- Labor efficiency variance 5- Spending variance 6- Efficiency variance 7- Capacity variance


What is the significance of food service?

what is the food service istablishment


Which is not a measure of dispersion range or variance?

Variance


What is Assumptions for Variance Heterogeneous?

Unequal in Variance


What is Assumptions for Variance Homogeneous?

Equal in Variance


What is a food service area?

A food service area is an area where food is served.


How do you calculate Total revenue variance?

total revenue variance = actual revenue - standard revenue Total revenue variance (AQ x AP) - (SQ x SP) where AQ is actual quantity (units of service sold), AP is actual price (actually recorded as revenue), SQ is standard quantity, and SP is standard price


Can variance be negative?

Since Variance is the average of the squared distanced from the mean, Variance must be a non negative number.


What is Proportion of variance unaccounted?

The unaccounted for variance aka Error Variance, is the amount of variance of the dependent variable (DV) that is not accounted for by the main effects/independent variables (IV) and their interactions.