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

question 23

Multiple Choice

Leaphart 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 2, 800 tenant-days, but its actual level of activity was 2, 840 tenant-days.The kennel has provided the following data concerning the formulas to be used in its budgeting: The administrative expenses in the planning budget for May would be closest to:

• A)$7, 026
• B)$6, 927
• C)$7, 336
• D)$7, 320

Apply knowledge of fund characteristics to assess investment options for diversification purposes.

Analyze fund performance ratings and understand their implications for investors.

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Definitions:

Break-Even Point

The point at which total costs and total revenues are equal, meaning no net loss or gain is incurred by the business.

Market Price

The amount of money required to purchase something or the cost at which something can be bought or sold in a free market.

Economic Profit

The difference between total revenue and the sum of explicit and implicit costs.

Marginal Revenue

Marginal Revenue is the additional income received from selling one more unit of a good or service.