200 words each question 1. Under what circumstances might standard cost targets be adjusted, rather than simply relying on variance analysis which

200 words each question

1. Under what circumstances might standard cost targets be adjusted, rather than simply relying on variance analysis which would provide a narrative explaining the variance?

2. Might we say that variance analysis is a necessary component to budgetary control, which would be the broader topic of the two? Would we be able to exercise budgetary control in the absence of variance analysis?

3. Would it be accurate to say that variance analysis is a necessary component to budgetary control? Why, or why not?