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Leist Clinic uses client-visits as its measure of activity. During September, the clinic budgeted for 2,200 client-visits, but its actual level of activity was 2,170 client-visits. The clinic has provided the following data concerning the formulas to be used in its budgeting: The net operating income in the flexible budget for September would be closest to:
SST
Total sum of squares; a term used in statistics to describe the total variance in a dataset.
Total Sum Of Squares
A statistical measure representing the total variance in a dataset that is used to calculate the standard deviation and variance.
Sales
The exchange of goods or services for money; in a business context, it refers to the transactions leading to revenue.
Profits
Financial gains realized when the revenue earned from business activities exceeds the expenses, costs, and taxes involved in sustaining the activities.
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