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

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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) 300
Revenue ($410.00q) $ 123,000
Expenses:
Wages and salaries ($11,900 + $124.00q) 49,100
Supplies ($6.00q) 1,800
Equipment rental ($2,200 + $20.00q) 8,200
Insurance ($4,100) 4,100
Miscellaneous ($510 + $1.46q) 948
Total expense 64,148
Net operating income $ 58,852

During May, the companys actual activity was 290 diving-hours.

Required:

Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)

Puget Sound Divers
Flexible Budget
For the Month Ended May 31
Revenue
Expenses:
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Total expense
Net operating income $

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