Dinham 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 Mar kennel budgeted for 4,100 tenant-days, but its actual level of activity was 4,130 tenant-days. The kennel has provided the following data concerni formulas used in its budgeting and its actual results for March: Data used in budgeting: Revenue Wages and salaries. Food and supplies Facility expenses Administrative expenses Total expenses Actual results for March: Fixed Variable element per element per month tenant-day $0 $ 35.00 $ 3,000 $ 8.00 2,000 8,500 7,000 $ 20,500 $ 133,251 $ 28,600 Revenue Wages and salaries. Food and supplies Facility expenses Administrative expenses The spending variance for facility expenses in March would be closest to: 14.50 3.50 0.50 $26.50 $ 62,225 $ 22,550 $ 7,100

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Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.