The difference between the actual total revenue and budgeted total revenue at the actual level of activity is called a(n) revenue variance.
Revenue, which is determined by multiplying the average sales price by the quantity of units sold, is the money made from regular business operations. The top line (or gross income) figure is what is used to calculate net income by deducting costs. Sales are another name for revenue in the income statement.
While income or profit includes the costs incurred in generating revenue and reports net (not gross) results, revenue simply refers to the proceeds from sales. When comparing predicted and actual sales, revenue variances are utilized as a gauge. This data is required to assess the effectiveness of a company's sales efforts.
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