advance variances and there reasons of the variances

Planning variances exist because we changed our plans (for example, we decided to buy cheaper material). If they are favourable then it was sensible, if they are adverse then it was not a good idea (although we may have had no choice – if prices went up then we have an adverse variance but it was not our fault).

Operational variances tell us how well our managers are performing – favourable variances mean they have done well; adverse means they have not done well.

A favourable mix variance means we have been buying more of cheaper materials and less of expensive ones. Adverse mix variance means we have bought more of expensive materials and less of cheaper ones.

A favourable yield variance means we are wasting less than expected. An adverse yield variance means we are wasting more than expected.

(This is obviously only brief but is enough for most marks. For more you should watch the free lecture.)

I suggest you find the answer to these from your Study Text or by reading answers to past exams.