Accounting For Managers - Cost Estimation And Control-Standard Costing And Variance Analysis
Types of Cost Variances
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As noted previously, the difference between the standard cost and the actual cost is known as ‘cost variance’.
Cost Variances
As noted previously, the difference between the standard cost and the actual cost is known as ‘cost variance’. The total cost variance should be split into its constituent parts, in order to analyze the cost variances in greater detail. The following figure reveals the picture clearly:
As noted previously, the difference between the standard cost and the actual cost is known as ‘cost variance’. The total cost variance should be split into its constituent parts, in order to analyze the cost variances in greater detail. The following figure reveals the picture clearly:
Tags : Accounting For Managers - Cost Estimation And Control-Standard Costing And Variance Analysis
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