Variance Analysis (Session 9) Flashcards by Muhammad Thafhan Ibrahim | Brainscape

Q

Why do variances happen?

A

A variance could be due to a change in the quantity or a change in price

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Q

Price variance

A

Actual Quantity * (AP - EP)

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Q

Quantity Variance

A

Estimated Price * (AQ - EQ)

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Q

A

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