USAGE VARIANCE Definition

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USAGE VARIANCE is the difference between the budgeted quantity of materials and the actual quantity used.

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BOTTOM UP is a concept of analyzing a subject, such as costs or revenue, starting from the lowest level working towards the top.

INCOME AFTER TAXES is the net profit earned by the company after deducting all expenses like interest, depreciation and tax. PAT can be fully retained by a company to be used in the business. Dividends, if declared, are paid to the share holders from this residue.

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