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variance

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

A term used with standard costs to report a difference between actual costs and standard costs. To learn more, see Explanation of Standard Costing.

Dictionary

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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