Discrepancy in the Approved Budget - Project Budget Vs Cost Control Report in AX 2012 R3 CU11

Hi,

I am using AX 2012 R3 CU11.

There is a Project for which the Budget was Approved and its budget is completely utilized.

Now I was just checking the Project Budget it is what I have defined earlier and is perfect. Now when I am running the Cost Control Report the Total Budgeted cost differs from the budget that was approved.

I am getting confused, in the Cost Control Report, why am I getting the values in the Variance Column? and why the individual entry level difference is coming between Total Approved Budget (Project Budget) and Total Budgeted Cost (Cost Control).

(Please refer to the below snapshot for details)

Would appreciate for some help.

Sincerely,

Muneeb