Since variances are merely mathematical formula, they can be applied to any situation where there is a standard of performance to be compared with an actual one. This includes sales and margins. In the same way that costs can be broken down into material. Labour and overheads with price / rate and efficiency variances so the sales results as they differ from a standard (or budget) can be analysed. The principals are exactly the same for …showed first 75 words of 425 total…

…showed last 75 words of 425 total…the starting point for preparing a tender. Improvement and change: achieved by monitoring variances through time. Standards are suitable for organisations whose activities involve common or repetitive operations and where the material and component parts of products can be specified. They are normally set at an Ideal level to reflect perfect performance, or an attainable level reflecting performance under efficient operating conditions. Resources 1.<Tab/>Miller JC : Bio/Pharmaceutical Outsourcing Report May 2004