<Table> <Tr> <Td> </Td> <Td> This article does not cite any sources . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (December 2009) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article does not cite any sources . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (December 2009) (Learn how and when to remove this template message) </Td> </Tr> <P> In budgeting (or management accounting in general), a variance is the difference between a budgeted, planned, or standard cost and the actual amount incurred / sold . Variances can be computed for both costs and revenues . </P> <P> The concept of variance is intrinsically connected with planned and actual results and effects of the difference between those two on the performance of the entity or company . </P>

A(n) is a difference between actual and budgeted performance