Dinham 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 March, the kennel budgeted for 2,000 tenant-days, but its actual level of activity was 2,040 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for March: Data used in budgeting:
Actual results for March:
The spending variance for food and supplies in March would be closest to:
Definitions:
Uncollected Deposits
Funds that have been deposited into a bank account but have not yet been cleared or recognized as available balance due to processing time.
Float
The difference between book cash and bank cash, representing the net effect of cheques in the process of clearing.
Interest Rate
The percentage charged on a loan or earned on an investment, indicating the cost of borrowing or the gain on investing.
Processing Delays
Delays in the processing of transactions, documents, or information, often due to inefficiencies or technical issues within a system or workflow.
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