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Budget variances - what do they indicate about the company?

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What is the impact of having a large positive budget variance? (hint, budget $ -actual $= variance $)

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Solution Summary

The solution explains several possible issues when large variances appear, but goes on to explain the significance of budget variations as a control feature.

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To have a substantial variance when comparing budget to actual, any one of the following events must have taken place:

1. There some kind of change in cost accumulations which is correct, but the budget wasn't modified based on the ...

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