Efficiency variance
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Efficiency variance is the difference between actual input quantity used and budgeted input quantity allowed for actual output, multiplied by budgeted price. Also called usage variance.
Definitions
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Efficiency variance. The difference between actual input quantity used and budgeted input quantity allowed for actual output, multiplied by budgeted price. Also called usage variance.
