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What does the term "Efficiency Variance" signify in cost-variance-analysis ?

Accounting Cost Cost Accounting Financial Reporting Financial Management
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Date Posted: 2014/09/03
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SREEDEVI SUNILKUMAR

The difference between the theoretical amount of inputs required to produce a unit of output and the actual amount of inputs used. In manufacturing, efficiency variance can be used to analyze the effectiveness with respect to labor, materials, machine time and other production factors.

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