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

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Accounting

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Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 250 $120,000 Revenue ($480.009) Expenses: Wages and salaries ($11,700 + $128.009) Supplies ($4.009) Equipment rental ($2,000 + $23.009) Insurance ($4,200) Miscellaneous ($500 + $1.449) Total expense Net operating income 43,700 1,000 7,750 4,200 860 57,510 $ 62,490 During May, the company's actual activity was 240 diving-hours. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0

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