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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) 250

Revenue ($420.00q)...... $ 105,000

Expenses:

Wages and salaries ($11,900 + $122.00q) 42,400

Supplies ($5.00q) 1,250

Equipment rental ($2,300 + $22.00q) 7,800

Insurance ($4,100) 4,100

Miscellaneous ($530 + $1.46q) 895

Total expense 56,445

Net operating income $ 48,555

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.)

Puget Sound DiversFlexible BudgetFor the Month Ended May 31

Revenue

Expenses:

Wages and salaries

Supplies

Equipment rental

Insurance

Miscellaneous

Total expense

Net operating income

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