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