Price Variances
a) Paying higher or lower prices than planned.
b) Losing or gaining quantity discounts by buying in smaller or larger quantities than planned.
c) Buying lower or higher quality than planned.
d) Buying substitute material due to unavailability of planned material.
Usage (Efficiency) Variances
a) Greater or lower field from material than planned.
b) Gains or losses due to use of substitute or gather/lower quality than planned.
c) Inefficiency or efficient machinery.
d) Grater or lower rate of scrap than anticipated.
e) Poorly trained workers or extremely high quality labour.
Wilfykil answered the question on April 17, 2019 at 08:47
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April 17, 2019
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April 17, 2019
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April 17, 2019
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