Cost Variance Calculator
Cost Variance Calculator
Component | Description |
---|---|
Actual Cost | The actual cost incurred for a project or activity. |
Budgeted Cost | The planned or budgeted cost for a project or activity. |
Cost Variance | The difference between the actual cost and the budgeted cost. |
Formula | Cost Variance = Actual Cost – Budgeted Cost |
Purpose | Used to measure the financial performance of a project or activity by comparing actual costs to budgeted costs. |