Question: efinition Variance The difference between the expected results in the flexible budget for the actual units sold and the static budget. Cost variance The difference

efinition
Variance
The difference between the expected results in the flexible budget for the actual units sold and the static budget.
Cost variance
The difference between actual results and the expected results in the flexible budget for the actual units sold.
Measures how well the business keeps unit costs of material and labor inputs within standards.
The difference between actual results and the expected results in the static budget.
Measures how well the business uses its materials or human resources.

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