Favourable variance is that variance which is good for business while unfavourable variance is bad for business
A budget "variance" is the difference between planned and actual performance.
The SD is the (positive) square root of the variance.
Labor cost variance means the difference between standard labor cost and actual labor cost.
Fixed overhead budgeted variance is the difference between estimated budgeted cost and actual fixed overhead cost of production.
Pooled variance is a method for estimating variance given several different samples taken in different circumstances where the mean may vary between samples but the true variance (equivalently, precision) is assumed to remain the same. A combined variance is a method for estimating variance from several samples, given the size, mean and standard deviation of each. Mathematically, a combined variance is equal to the calculated variance of the set of the data from all samples. See links.
noun the difference between the values of exports and imports of a country, said to be favorable or unfavorable as exports are greater or less than imports. ----
A favorable variance is the difference between the budgeted or standard cost and the actual cost. If the actual cost is less than budgeted or standard cost, it is a favorable variance.
it measures the difference between the actual number of unites sold and the budgeted units sold. it's favorable when it's a negative number and unfavorable when it's a positive number.
A favorable variance is the difference between the budgeted or standard cost and the actual cost. If the actual cost is less than budgeted or standard cost, it is a favorable variance.
unfavorable or favorable consequences
For most accounting entities in the United States, variances are neither debits nor credits, because variances are not recorded on the books of a business. A variance is simply the difference between what we expected the business to earn or spend and what it actually did earn or spend. Only the things that actually did happen are recorded on the books. But the amount we had expected to earn at the beginning of the year can be found in the budgets, forecasts or plans we created for the year when we set up budgets for the year. The difference between what we budgeted for and what actually happened is called the variance from budget. For example, if at the beginning of 2008, we projected that we would have total sales of $5 million dollars for the entire year, but twelve months later, we found that we had had only $4 million in sales in 2008, there is a variance of $1 million dollars, and it is unfavorable, because we actually had less sales revenue than we thought we would earn at the beginning of the year. But if our actual sales for 2008 totalled $6 million, the variance would still be $1 million, but it would be a favorable variance, because we made $1 million more in sales ($6 million) than we originally thought we would (5% million). If actual expenses are higher than the budgeted amount, the difference between the two amounts is an unfavorable variance, because we spent over budget, which reduces our profits. However, if actual expenses are lower than the budgeted amount, the difference is a favorable variance, because we were able to spend less than we thought we would have to, and our profits would be higher.
A budget "variance" is the difference between planned and actual performance.
A budget "variance" is the difference between planned and actual performance.
Difference between actual amount and budgeted amount is called "Variance" and variance analysis is done to find out the reasons for variance
Enthalpy change is not the only consideration for whether a reaction is favorable. However, if the enthalpy change is large, it is usually the dominant factor in determining favorability. Therefore, reactions that have a large, negative tend to be favorable, because the reaction usually releases energy when it occurs. Reactions that have a large, positive tend to be unfavorable as written, because the reaction usually requires energy to occur.
Yes
The SD is the (positive) square root of the variance.