Reference no: EM13967353
Galante Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During May, Kennel budgeted for 5,000 tenant-days, but its actual level of activity was 5,020 tenant-days. Kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May:
Data used in budgeting:
Fixed element
per month Variable element per tenant-day
Revenue - $31.50
Wages and salaries $4,000 $7.50
Food and supplies 600 12.30
Facility expenses 9,000 4.50
Administrative expenses 8,800 0.30
Total expenses
$22,400
$24.60
Actual results for May:
Revenue $108,780
Wages and salaries $23,600
Food and supplies $36,800
Facility expenses $19,350
Administrative expenses $9,160
The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for May would be closest to:
$7,770 U
$7,632 U
$7,632 F
$7,770 F
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