The document discusses a planning budget for net operating income in December. It provides the revenue, variable expenses, and contribution margin per tenant day. It then calculates that with 2,980 tenant days, the contribution margin is $29,800, and subtracting the total fixed expenses of $18,600 yields a net operating income closest to $11,200.

1. The net operating income in the planning budget for December would be closest to:
$11,200
$12,121
$11,960
$11,400
Solution
Revenue per tenant day = $ 32.10
Total Variable expense per tenant day = $ 22.10
Contribution margin per tenant day = $ 32.10 -$ 22.10 = $ 10
Total Fixed Expense = $ 18,600
Net operating Income = (2,980 x 10) - 18,600 = $ 11,200