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How are insignificant variances closed at the end of an accounting period? How are significant variances closed at the end of an accounting period? Why is there a difference in treatment?

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How are insignificant variances closed at the end of an accounting period? How are significant variances closed at the end of an accounting period? Why is there a difference in treatment?

Answered Same Day Dec 24, 2021

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David answered on Dec 24 2021
114 Votes
How are insignificant variances closed at the end of an accounting period? How
are significant variances closed at the end of an accounting period? Why is there
a difference in treatment?
The insignificant variances are closed at the end and the under or over applied
overheads are...
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