The point at which the control functions and the planning of management come together is known as ______________?
Correct answer: D. variance
- A. functioning
- B. deviation
- C. variation
- D. variance
Explanation
Variance analysis links management planning with control by comparing actual results with planned or standard results. The resulting difference is called a variance.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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