Variance Definition
Variance Definition:
The difference between standard prices and quantities on the one hand and actual prices and quantities on the other hand.
Other Related Accounting Articles:
- Direct Labor Efficiency Variance
- Materials Quantity Variance Definition
- Direct Material Usage Variance
- Direct Material Price Variance
- Labor Efficiency Variance Definition
- Materials Price Variance Definition
- Standard Costing
- Sales Quantity Variance
- Labor Rate Variance
- Labor Rate Variance Definition
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