Discover how efficiency variance reveals the gap between expected and actual inputs in production and its impact on labor, materials, and costs.

Facilities that focus on manufacturing and production track two kinds of costs: fixed costs and variable costs. The variable costs are those that change when production levels change: raw materials, ...

Discover how to calculate variable overhead spending variance, its impact on costs, and examples of favorable vs. unfavorable variances in business operations.

Companies use variance analysis to compare financial performance changes from one month to the next, or perhaps from one quarter to another or year to year. Typically, actual financial results are ...