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)
250
Revenue ($420.00q)
$ 105,000
Expenses:
Wages and salaries ($11,800 + $128.00q)
43,800
Supplies ($6.00q)
1,500
Equipment rental ($2,000 + $20.00q)
7,000
Insurance ($3,900)
3,900
Miscellaneous ($530 + $1.44q)
890
Total expense
57,090
Net operating income
$ 47,910
During May, the companys actual activity was 240 diving-hours.
Required:
Prepare a flexible budget for May. (Round your answers to the nearest whole number.)
Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: \begin{tabular}{|l|l|} \hline Wages and salaries & \\ \hline Supplies \\ \hline Equipment rental \\ \hline Insurance & \\ \hline Miscellaneous & \\ \hline Total expense & \\ \hline Net operating income & $ \\ \hline \end{tabular}
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