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Budget variance is calculated using variance analysis to compare planned, or budgeted, amounts to actual amounts. Variance analysis is a quantitative examination of the differences between budgeted and actual amounts, according to AccountingTools.

www.reference.com/article/simple-variance-calculated-c382a9106c4460e4

To calculate simple variance, also called sample variance, start by calculating the mean of the set of numbers. Next, subtract the mean and square the result for each number. Finally, add the squared results, and divide this sum by one less than the number of data points.

www.reference.com/article/calculate-variance-5de355a90ceafb2f

Calculate variance by finding the average of the square of the data values' differences from the mean. You need the data values, mean, squared mean difference and the number of data values in the data set.

www.reference.com/world-view/calculate-variance-excel-6fcc54dca2b789fd

There are two basic ways of calculating variance in Excel using the function VAR or VAR.S. These functions can then calculate variance in several ways: use of numbers in arguments of function =VAR(2,3,4,5,6,7,8,125), use of cells as arguments in the formula =VAR(A2,A3,A4,A5), use of a range of cells

www.reference.com/article/flexible-budget-9e4a0d1be3bf7863

A flexible budget is one that can flex or adjust as needs change, as noted by Accounting Coach. This type of budget differs from a static budget that remains at the same amount regardless of changing needs.

www.reference.com/article/schedule-variance-bfaa241a5bbd3c73

Schedule variance occurs when the time needed to complete a project is different from the time scheduled for completion. In some cases projects get completed early. However, schedule variance more often refers to situations in which the timeline for completion exceeds the amount scheduled.

www.reference.com/article/calculate-statistical-sample-variance-612c099ab9ff0d4c

To calculate the sample variance of a population, first determine the mean of the sample, subtract each data point from the mean, square each resulting number, add all the squared results together, and then divide that number by the total number of points in the data set minus one. A one is subtract