A company's planned budget at the beginning of the year will always end up being different from how the year actually plays out. It's just impossible to predict how the year will go. The differences ...

Static budget variances are the differences between what a company or individual thought it would spend in its budget versus what it actually did. In a static budget, a company or individual creates ...

Static budget variances are the differences between what a company or individual thought it would spend in its budget versus what it actually did. In a static budget, a company or individual creates ...

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

Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, and researcher who has assisted thousands of clients over a more than two-decade career. She is the CEO of ...

Cost and schedule variance data are part of earned value analysis, which is a tool that small and large businesses use as an early-warning system to identify and manage problems in ongoing projects.

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, ...