Why is the identification of favorable and unfavorable variances so Important to a company? How can the identification of the variances help management control costs? Pleases explain. As you are considering the flexible budgeting topic of me week, it is important for you to look at this analyst as a significant contribution to the management of the company. Knowing what me bottom line profit or loss is important. But what a more important is to understand how your actual results varied in terms of units sold versus how the actual cost of each unit differed from the budget. Although I understand that the lecturer's voice is incredibly annoying on me video, please do watch It - you can turn the sound off and read the script on the right side If you need to! But he has an excellent example that will help you. Do you have an example that you can share? Sometimes that's the best way to answer the