Variance analysis involves the steps listed below. In which order should the steps be performed?
1 Draw conclusions and take action
2 Calculate variances
3 Choose variances for further investigation
4 Identify reasons for variances
A) 1, 2, 3, 4
B) 2, 3, 4, 1
C) 2, 1, 4, 3
D) 2, 4, 3, 1

Question

Variance analysis involves the steps listed below. In which order should the steps be performed? 
1 Draw conclusions and take action
2 Calculate variances
3 Choose variances for further investigation
4 Identify reasons for variances
A) 1, 2, 3, 4
B) 2, 3, 4, 1
C) 2, 1, 4, 3
D) 2, 4, 3, 1

Quizplus · Accepted Answer

First, calculate variances, then choose which variances to investigate further, identify reasons for those variances, and finally draw conclusions and take action.

Variance Analysis Involves the Steps Listed Below