Malander 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 November, the kennel budgeted for 3,400 tenant-days, but its actual level of activity was 3,390 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for November: Data used in budgeting:
Actual results for November:
The spending variance for food and supplies in November would be closest to:
Definitions:
Stochastic
Pertaining to processes involving randomness or probability.
Genetically Programmed
Characteristics or behaviors encoded in an organism's DNA, predetermined by genetic inheritance.
Nonstochastic
Relates to a process or model that is deterministic, meaning it is not random and outcomes can be predicted with certainty.
Aging Population
Refers to the increasing median age in the population of a region due to declining fertility rates and/or rising life expectancy.
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