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) 250
Revenue ($420.00q)...... $ 105,000
Expenses:
Wages and salaries ($11,900 + $122.00q) 42,400
Supplies ($5.00q) 1,250
Equipment rental ($2,300 + $22.00q) 7,800
Insurance ($4,100) 4,100
Miscellaneous ($530 + $1.46q) 895
Total expense 56,445
Net operating income $ 48,555
During May, the companys actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.)
Puget Sound DiversFlexible BudgetFor the Month Ended May 31
Revenue
Expenses:
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Total expense
Net operating income
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