Knapper 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 January, the kennel budgeted for 2,700 tenant-days, but its actual level of activity was 2,740 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting:
-The net operating income in the flexible budget for January would be closest to:
Definitions:
Federal Direct Unsubsidized Loan
A federal student loan where the borrower is responsible for paying all the interest, regardless of the loan's status.
Interest Rate
The percentage of a sum of money charged for its use, often expressed annually.
Minimum Payment Warning Box
Information on a credit card statement that explains the consequences of only making minimum payments.
Percent Increase
A measure of how much a quantity grows over a period, expressed as a percentage of the original amount.
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