03 C www. Paulis 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 February, the kennel budgeted for 4,100 tenant-days, but its actual level of activity was 4,080 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for February Data used in budgeting: Fixed element per month $ 0 $3,100 Variable element per tenant-day $ 30.60 $ 6.60 500 11.40 8,100 3.60 7,900 0.60 $ 19,600 $22.20 Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses Total expenses Actual results for February Revenue Wages and salaries Food and supplies $ 107,880 $ 23,510 $ 36,791 Facility expenses Administrative expenses $ 19,260 $ 9,142 The net operating income in the flexible budget for February would be closest to Multiple Choice SYA377