The general approach in variance analysis is to separate the variance into components based on a budgeting formula.

Name: The general approach in variance analysis is to separate the variance into components based on a budgeting formula.
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Variance analysis involves breaking down the total variance into specific components, such as volume variance, price variance, and efficiency variance, to understand the reasons for deviations from the budget.

The General Approach in Variance Analysis Is to Separate the Variance