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.

A variance occurs when expenses such as revenue or labor are either more or less than what the company anticipated and budgeted for. Hospitality businesses such as hotels and restaurants can ...

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 ...

Christenson, Charles. "Managing against Expectations (A): An Introduction to Profit Variance Analysis." Harvard Business School Background Note 182-013, July 1981.

A categorical variable is defined as one that can assume only a limited number of values. For example, a person's sex is a categorical variable that can assume one of two values. Variables with levels ...

If you are searching for ways to transform your Excel monthly tasks into a more streamlined, effortless process, you might be interested in a new tutorial created by the team at Excel Off The Grid. If ...

Marshall Hargrave is a stock analyst and writer with 10+ years of experience covering stocks and markets, as well as analyzing and valuing companies. Dr. JeFreda R. Brown is a financial consultant, ...