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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) 400
Revenue ($470.00q) $ 188,000
Expenses:
Wages and salaries ($11,400 + $128.00q) 62,600
Supplies ($5.00q) 2,000
Equipment rental ($2,200 + $24.00q) 11,800
Insurance ($4,000) 4,000
Miscellaneous ($530 + $1.44q) 1,106
Total expense 81,506
Net operating income $ 106,494

During May, the companys actual activity was 390 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:
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Total expense 0
Net operating income

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