Calculating variances is a necessary, but not sufficient, step for completing a variance analysis.

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While calculating variances is an important step in variance analysis, it is not enough on its own. Variance analysis involves comparing the actual results with the budgeted or expected results, and identifying the reasons for any variances. This requires further analysis and investigation beyond simply calculating the variances.

Calculating Variances Is a Necessary, but Not Sufficient, Step for Completing