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    Describe variance analysis and conclusions from them

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    How do you describe and illustrate variance analysis and what type of meaningful conclusion can emerge from it? Offer a variance report and an exam question for the student to "self test" if they comprehend the material discussed.

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    Solution Summary

    This discussion (457 words) explains the types of variances reviewed in a typical organization and how the variances can be useful to managers and the firm. The discussion is in everyday language suitable for novices and intermediate students. After the discussion, the student is given a variance report and an exam question for them to "test" their comprehension of the material just presented.