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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) 100
Revenue ($365.00q) $ 36,500
Expenses:
Wages and salaries ($8,000 + $125.00q) 20,500
Supplies ($3.00q) 300
Equipment rental ($1,800 + $32.00q) 5,000
Insurance ($3,400) 3,400
Miscellaneous ($630 + $1.80q) 810
Total expense 30,010
Net operating income $ 6,490

During May, the companys actual activity was 105 diving-hours.

Required:

Prepare a flexible budget for May

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