VarianceForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › VarianceThis topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts May 29, 2020 at 7:45 pm #572240 AverageAndyMemberTopics: 128Replies: 34☆☆sir why is the answer to following statement false :” A variance is the difference between budgeted and actual cost”?Should not the answer be TRUE? May 30, 2020 at 9:50 am #572272 John MoffatKeymasterTopics: 57Replies: 54414☆☆☆☆☆No – it is false.Cost variances are the differences between the actual cost and the standard cost of the actual production, as I explain in my lectures.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In