In this week, we will be covering Variances. These measure the difference between what we budgeted and what actually occurred as far as our costs. When we spend less than planned, it is a favorable variance. When we spend more, it is an unfavorable variance. We break this out to show the portion of this difference that comes from having higher prices for our inputs (Price Variance) and the portion of this difference that comes from using more inputs (Quantity Variance). We will see how to do this for DM, DL, and Overhead costs. Given your answer to the previous week's prompt, give an example of a time where your personal costs had a variance (either Favorable or Unfavorable). Based on what you now know, do you suspect that it was driven primarily by Price Variance, Quantity Variance, or both? Explain your reasoning behind this.