Volume variance

Volume variance is the difference between the master budget and the flexible budget. The volume variance arises only because the actual sales volume differs from the volume originally anticipated in the master budget.

Definitions

According to Managerial Accounting by Braun, Tietz (5th edition),

Volume variance. The difference between the master budget and the flexible budget. The volume variance arises only because the actual sales volume differs from the volume originally anticipated in the master budget.