Favourable variance is that variance which is good for business while unfavourable variance is bad for business
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
Equal in Variance
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.
The variance is: 1.6709957376e+13
A variance is a deviation from the town code. Example: Homeowner 1 applied for an area variance for side yard setback for a proposed shed. Meaning the homeowner was required by code to place the shed 20' from his side property line but is asking the Zoning Board to place it 5' from the side property line.
A building code variance is a permit issued by the municipality that allows some sort of a violation of the building code. For example, the town may decide to allow a house to be built on a lot with 190 foot frontage when the building code requires 200 foot frontage. The process for obtaining a variance includes a study of the request and how it would impact the neighborhood. The abutters are given notice of the request and the opportunity to file any objections. Once the variance is issued it must be recorded immediately in the land records and will benefit the property from that time on.
there is no fire code
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
A building code variance is a permit issued by the municipality that allows some sort of a violation of the building code. For example, the town may decide to allow a house to be built on a lot with 190 foot frontage when the building code requires 200 foot frontage. The process for obtaining a variance includes a study of the request and how it would impact the neighborhood. The abutters are given notice of the request and the opportunity to file any objections. Once the variance is issued it must be recorded immediately in the land records and will benefit the property from that time on.
In the USA, the National Electrical Code is NFPA 70. There are several national fire codes, including National Fire Code (also called Uniform Fire Code); NFPA 1 (National Fire Protection Association) and the International Fire Code (International Code Council). Each of these references hundreds of other codes and standards, including Life Safety Code, Building Code, Electrical Code, etc.
Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.
efficiency variance, spending variance, production volume variance, variable and fixed components
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
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Variance
Unequal in Variance