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)
300
Revenue ($430.00q)
$ 129,000
Expenses:
Wages and salaries ($11,500 + $128.00q)
49,900
Supplies ($4.00q)
1,200
Equipment rental ($2,000 + $21.00q)
8,300
Insurance ($3,900)
3,900
Miscellaneous ($520 + $1.46q)
958
Total expense
64,258
Net operating income
$ 64,742
During May, the companys actual activity was 290 diving-hours.
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