0
Still curious? Ask our experts.
Chat with our AI personalities
ViviYour ride-or-die bestie who's seen you through every high and low.
Chat with Vivi
DevinI've poured enough drinks to know that people don't always want advice—they just want to talk.
Chat with Devin
ProfessorI will give you the most educated answer.
Chat with ProfessorAdd your answer:
Earn +20 ptsQ: Benefits of calculating budget variance
Write your answer...
Submit
Still have questions?
Continue Learning about Math & Arithmetic
What is budget variance?
A budget "variance" is the difference between planned and actual performance.
What factors causes Budget Variance?
There are 7 variances associated with a budget ( which are generally calculated for controlling purposes) 1- Material Price variance 2- Material Quantity variance 3- Labor rate variance 4- Labor efficiency variance 5- Spending variance 6- Efficiency variance 7- Capacity variance
Can Budget variance be negative?
Yes
Calculating var through mean and standard deviation?
Assuming var is variance, simply square the standard deviation and the result is the variance.
How is variance used to measure risk?
In finance, risk of investments may be measured by calculating the variance and standard deviation of the distribution of returns on those investments. Variance measures how far in either direction the amount of the returns may deviate from the mean.
Trending Questions
How many permutations and combinations are there of 8 objects taken 5 at a time?
What is the sum of 8.5 and 3.25?
What number is halfway between 45 and 85?
What is 10ft in inches?
What fraction is the same as 0.25?
Where can you find level c review units 7-9?
What is the equivalent fraction 20 over 76?
How do you get 10 percent off of 520.00?
What is a divided 14 to get to 3?
How mant feet and inches are in 38 inches'?
What do you multiply and get 17?
What graph Represents two sets of comparable information?
What is 0.172 rounded to the nearest tenth?
What is the Value of x when 5 to the x power equals 600?
In a mathematical system some terms are undefined but most terms are?
What place value does the 5 have in 13542?
How can I create a discrete function that generates a curve over n iterations that whose sum ( the aria under the curve if it was continuous ) is constant?
What is four fifths divided by four fifteenths?
How much weight can you put on 2x8 x12 foot ceiling?
What percent of 1.80 is 3?
Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.