uget Sound Divers is a company that provides diving services such as underwater ship repairs...
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Accounting
uget 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)
200
Revenue ($470.00q)
$
94,000
Expenses:
Wages and salaries ($11,500 + $126.00q)
36,700
Supplies ($5.00q)
1,000
Equipment rental ($2,300 + $21.00q)
6,500
Insurance ($4,000)
4,000
Miscellaneous ($520 + $1.48q)
816
Total expense
49,016
Net operating income
$
44,984
During May, the companys actual activity was 190 diving-hours.
Required:
Prepare a flexible budget for May. (Round your answers to the nearest whole number.)
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