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Solution Library
Galante Kennel: calculate overall revenue and spending variance
Question
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, Kennel budgeted for 4,800 tenant-days, but its actual level of activity was 4,780 tenant-days. Kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May:
Data used in budgeting:
|
Fixed element |
Variable element per tenant-day |
|
|
Revenue |
— |
$31.30 |
|
Wages and salaries |
$3,800 |
$7.30 |
|
Expendables |
400 |
12.10 |
|
Facility expenses |
8,800 |
4.30 |
|
Administrative expenses |
8,600 |
0.10 |
|
Total expenses |
$21,600 |
$23.80 |
Actual results for May:
|
Revenue |
$108,580 |
|
Wages and salaries |
$23,580 |
|
Expendables |
$36,798 |
|
Facility expenses |
$19,330 |
|
Administrative expenses |
$9,156 |
The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for May would be closest to:
a. $5,466 F
b. $5,316 U
c. $5,316 F
d. $5,466 U
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