Simply, it is the difference between expected or budgeted expenses and actual, documented expenses. A cost overrun is an example of an expenditure variance.
What is EXPENDITURE VARIANCE?
- FIXED PRODUCTION OVERHEAD EXPENDITURE VARIANCE
- VARIABLE PRODUCTION OVERHEAD EXPENDITURE VARIANCE
- LABOR RATE (PRICE) VARIANCE
- VARIANCE ANALYSIS
- VARIABLE PRODUCTION OVERHEAD TOTAL VARIANCE
- LABOR IDLE TIME VARIANCE
- FIXED PRODUCTION OVERHEAD VOLUME VARIANCE
- MATERIALS QUANTITY VARIANCE (MQV)
- ABSORPTION VARIANCE
Featuring Black’s Law Dictionary
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