A variance is the difference between ________.
A)a budgeted amount and a benchmark amount
B)the required number of inputs for the number of outputs
C)an actual amount and a budgeted amount
D)a budgeted amount and a standard amount

Question

Quizplus · Accepted Answer

A variance is the difference between an actual amount and a budgeted amount. Option A refers to a benchmark amount, which is not part of the definition of variance. Option B refers to productivity or efficiency, which is not directly related to the calculation of a variance. Option D refers to a standard amount, which again is not directly related to the calculation of variance.

A Variance Is the Difference Between ________