Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. puget sound divers is a company that provides divi

Puget Sound Divers is a company that provides diving services such as underwater ship repairs...

80.2K

Verified Solution

Question

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.)

image

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}

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Sherry borrows $10,000 to purchase a car. The loan contract specified a rate of 6%, compounded...

Statistics
1.2K views

Alice, Bob, and Chuck are three students who go out for coffee every day. But every...

Biology
1.2K views

According to the textbook what does the thesis statement identify O The main ideas of...

Physics
1.2K views

1 A far sighted person can see object beyond 49 cm clearly If separation between...

Physics
1.2K views

28 Which of the following statement is false for the properties of electromagnetic waves a...

Geometry
1.2K views

Given a right cylinder where h is the height and ris the radius what does...

Basic Math
1.2K views

Select the correct answer Alice and Amy decide to meet at a party From a...

Accounting
1.2K views

The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance...

Accounting
1.2K views

Llsted Delow ore the tronsactions that dffected the shoreholders equity of Bronch-Rickie Corporation during the...

Accounting
1.2K views

Q1-A. Earlier this year, Wally Wizard, whose regular job is as a manager of a...

Finance
1.2K views

You have been hired as a consultant for Pristine Urban-Tech Zither, Inc. (PUTZ). manufacturers of...

Finance
1.2K views

7) Over the past 5 months, Salt, Pepper and the Market had the following monthly...