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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) 200
Revenue ($420.00q) $ 84,000
Expenses:
Wages and salaries ($11,700 + $122.00q) 36,100
Supplies ($5.00q) 1,000
Equipment rental ($2,400 + $25.00q) 7,400
Insurance ($3,800) 3,800
Miscellaneous ($510 + $1.46q) 802
Total expense 49,102
Net operating income $ 34,898

During May, the companys actual activity was 190 diving-hours.

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