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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)300
Revenue ($450.00q) $ 135,000
Expenses:
Wages and salaries ($12,000+ $122.00q)48,600
Supplies ($6.00q)1,800
Equipment rental ($2,200+ $23.00q)9,100
Insurance ($4,100)4,100
Miscellaneous ($540+ $1.44q)972
Total expense 64,572
Net operating income $ 70,428
During May, the companys actual activity was 290 diving-hours.
Required:
Prepare a flexible budget for May.

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