20 of 32 F Reichel Co uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During July, the kennel budgeted for 4,180 tenant-days, but its actual level of activity was 3,890 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for July: Data used in budgeting: Selling Price $31.70 Fixed cost component per month Variable cost component per tenant-day Wages and salaries $3,300 Food and supplies 460 Facility expenses 8,100 $6.50 12.10 4.50 0.70 $ 20,360 $23.80 Administrative expenses 8,500 Total expenses Actual results for July: Revenue Wages and salaries Food and supplies Facility expenses $114,680 $ 23,800 $38,290 $ 20,290 Administrative expenses $9,140 The net operating income in the planning budget for July would be closest to: A $112,146 B $12,662 0 $10,371 D $13,928 The net operating income in the planning budget for July would be closest to: A $112,146 B $12,662 C $10,371 D $13,928