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Volume Variance
A financial term that represents the difference between the expected (budgeted) volume of production or sales and the actual volume achieved.
Spending Variance
The difference between the budgeted or planned amount of expense and the actual amount spent.
Variable Overhead Spending Variance
The difference between the actual costs incurred for variable overheads and the expected costs of variable overheads based on standard cost.
Fixed Overhead Spending Variance
This metric measures the difference between the actual fixed overhead costs incurred and the budgeted (or standard) fixed overhead costs.
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