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What is difference between the amount budgeted and the actual amount is called?
Difference between actual amount and budgeted amount is called "Variance" and variance analysis is done to find out the reasons for variance
What is cost variance?
Cost variance means the difference in actual cost from standard cost and very important part of standard costing and budgeting analysis.
How a business manager can use variance analysis to make effective management decision?
yes
What is the difference between variable overheads cost variance andfixed overheads cost variance?
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.
What causes material usage variance?
Material usage variance can be caused due to waste. Quality issues, such as defects, can result in material usage variance.
What is the meaning of analysis of covariance?
A mix of linear regression and analysis of variance. analysis of covariance is responsible for intergroup variance when analysis of variance is performed.
What has the author Hardeo Sahai written?
Hardeo Sahai has written: 'Analysis of variance for random models' -- subject- s -: Analysis of variance 'The analysis of variance' -- subject- s -: Analysis of variance
Distinguish between analysis of variance and analysis of covariance?
) Distinguish clearly between analysis of variance and analysis of covariance.
Standard Costing Vs Variance Analysis?
standard costing and variance analysis
Advantages of using the analysis of variance?
Explian DOE using Variance Analysis
What is variance analysis in accounting?
Listen mate! I'll break it down to you.. variance analysis
The purpose of variance analysis?
Listen mate! I'll break it down to you.. variance analysis
How is standard costing variance interrelated?
http://www.futureaccountant.com/standard-costing-variance-analysis/ http://www.futureaccountant.com/standard-costing-variance-analysis/
Compare Standard costing vs variance analysis?
Compare Standard costing vs variance analysis?"
What are the variances in a 4 variance analysis?
efficiency variance, spending variance, production volume variance, variable and fixed components
An analysis of variance differs from a t test for independent means in that an analysis of variance?
Analysis of Variance (ANOVA) compares 3 or more means. The t-test would only compare 2 means.
What has the author James H Bray written?
James H. Bray has written: 'Multivariate analysis of variance' -- subject(s): Multivariate analysis, Analysis of variance
