Galante Kennel Uses Tenant-Days as Its Measure of Activity; an Animal

question 98

Multiple Choice

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, the kennel budgeted for 3,400 tenant-days, but its actual level of activity was 3,380 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May:

Data used in budgeting:
Actual results for May:
-The activity variance for net operating income in May would be closest to:

• A)$5,720 F
• B)$170 U
• C)$170 F
• D)$5,720 U

Recognize the impact of mere exposure on preferences and likings.

Understand the concept and examples of social loafing and its effects on group work.

Understand the concepts of different types of distributions (neokurtic, platykurtic, leptokurtic) and their characteristics.

Grasp the concept of sampling distribution and the importance of standard error.

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Definitions:

Raw Materials

The basic materials and substances used in the initial stages of production to manufacture goods.

Standard Costs

Predicted costs associated with manufacturing or providing a service, used for budgetary control and performance analysis.

Cash Account

An account that tracks the flow of cash transactions, including all receipts and payments of cash.

Standard Cost Variances

Differences between the planned (standard) costs and the actual costs incurred.