Puget Sound Divers is a company that provides diving services such as underwater ship repairs...
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Accounting
Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for May appears below:
Puget Sound Divers Planning Budget For the Month Ended May 31
Budgeted diving-hours (q)
350
Revenue ($400.00q)
$ 140,000
Expenses:
Wages and salaries ($11,800 + $128.00q)
56,600
Supplies ($4.00q)
1,400
Equipment rental ($2,100 + $21.00q)
9,450
Insurance ($3,900)
3,900
Miscellaneous ($510 + $1.46q)
1,021
Total expense
72,371
Net operating income
$ 67,629
During May, the companys actual activity was 340 diving-hours.
Required:
Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)
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