Variance Analysis
Variance analysis helps managers determine if they are successful or not in meeting the goals set for them by upper management. It provides a way to determine possible causes and remedies for unfavorable variances as well as examining favorable variances in an effort to capture those processes in order to use them in the future. Through these resources, you will explore how a variance analysis is used and how to perform one.
· Franklin, M., Graybeal, P., & Cooper, D. (2019).
Why it mattersLinks to an external site.
. In
Principles of accounting, volume 2: Managerial accounting . OpenStax.
· Franklin, M., Graybeal, P., & Cooper, D. (2019).
8.1 explain how and why a standard cost is developedLinks to an external site.
. In
Principles of accounting, volume 2: Managerial accounting . OpenStax.
· Franklin, M., Graybeal, P., & Cooper, D. (2019).
8.2 compute and evaluate materials variancesLinks to an external site.
. In
Principles of accounting, volume 2: Managerial accounting . OpenStax.
· Franklin, M., Graybeal, P., & Cooper, D. (2019).
8.3 compute and evaluate labor variancesLinks to an external site.
. In
Principles of accounting, volume 2: Managerial accounting . OpenStax.
· Franklin, M., Graybeal, P., & Cooper, D. (2019).
8.5 describe how companies use variance analysisLinks to an external site.
. In
Principles of accounting, volume 2: Managerial accounting . OpenStax.
· Walden University, LLC.
(2024).
Standard costs, actual costs, and variances
Download Standard costs, actual costs, and variances
[PDF]. Walden University Canvas.
· Walden University, LLC. (2024).
Variance practice and solution
Download Variance practice and solution
[PDF]. Walden University Canvas.