Facilities that focus on manufacturing and production track two kinds of costs: fixed costs and variable costs. The variable costs are those that change when production levels change: raw materials, ...

Discover how efficiency variance reveals the gap between expected and actual inputs in production and its impact on labor, materials, and costs.

Many finance teams treat variance analysis as a box-checking exercise: Set a threshold, flag the swing, move on. That’s why so many controllers spend days chasing noise while risks slip through. It’s ...

Learn what analysis of variance (ANOVA) is, how it works, and when to use it. See how it helps compare means across multiple data groups in statistics and research.

Companies regularly analyze sales variances to explain revenue performance over a monthly, quarterly or yearly accounting cycle. The resulting sales variance explanations help firms isolate problems ...