Nicolini 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 October, the kennel budgeted for 2,200 tenant-days, but its actual level of activity was 2,250 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for October:
Data used in budgeting:
Actual results for October:
-The spending variance for food and supplies in October would be closest to:
Definitions:
Inflation Rate
The percentage increase in the price level of goods and services over a period, reducing purchasing power.
Thai Baht
The official currency of Thailand, used for financial transactions within the country.
Exchange Rate
The value of one currency for the purpose of conversion to another.
Cash Inflows
The sum of funds entering a company, usually from operational, investment, and financial activities.
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