Budget variance refers to the difference between the actual expenses and budgeted expenses. Broadly this is used by governments, companies and even small retailer shop owners can use it to assess the differences in the budgets and actual expenses. The budgetary variance can be favorable or unfavorable.
A favorable budget variance is something that gives you benefits. For example, if you allocated $50,000 for monthly expenses and you actually spent $46000. This is a $4,000 favorable budget variance. On the other side, if you allocated the average material usage will cost $5000 per week, however, you observed that the weekly material usage actually cost you $5120. The $120 variance is an unfavorable budget variance.
The standard cost card for the single product manufactured by Cutter,
Swain Company manufactures one product, it does not maintain any beginning
Selected information relating to Yost Company’s operations for the most recent year
Primara Corporation has a standard cost system in which it applies overhead
Forsyth Company manufactures one product, it does not maintain any beginning
Jennifer Norton is the Registered Dietitian (R.D.) responsible
The National Battery Company produces a wide variety of batteries for home
Primara Corporation has a standard cost system in which it applies overhead
Williamson, Inc., manufactures quality replacement parts for the auto industry
Lexi Belcher picked up the monthly report that Irvin Santamaria left on
