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Define variance analysis

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Reference no: EM131911082

Question -

1. Define a flexible budget. Provide an example of how a flexible budget is used in the real world.

2. Define variance analysis. Compare and contrast a direct materials variance analysis with a labor variance analysis.

3. What is a responsibility center? Provide an example of a responsibility center. Explain how to use a return on investment (ROI) to evaluate performance.

Reference no: EM131911082

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