Foxworthy 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 July, the kennel budgeted for 2,000 tenant-days, but its actual level of activity was 2,050 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting: 
-The net operating income in the planning budget for July would be closest to:
Definitions:
Raw Materials Inventory
The total value of all the materials that have not yet been used in the production process.
Raw Materials Production
The initial stage in the manufacturing process, involving the extraction or creation of raw materials to be used in production.
Budgeted Production
The number of units planned to be produced in a certain period according to a company's budget.
Budgeted Sales
Projected sales revenue for a given period based on market analysis and company objectives.
Q17: The simple rate of return on the
Q35: If the budgeted direct labor time for
Q41: The Clayton Company uses a standard
Q50: What was the fixed manufacturing overhead budget
Q73: Madrazo Corporation uses residual income to evaluate
Q102: The length of time required to recover
Q107: (Ignore income taxes in this problem.) The
Q124: The following materials standards have been established
Q174: The medical supplies in the flexible budget
Q262: Tsui Clinic uses patient-visits as its measure