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) | 250 | |
| Revenue ($430.00q) | $ | 107,500 |
| Expenses: | ||
| Wages and salaries ($11,500 + $124.00q) | 42,500 | |
| Supplies ($6.00q) | 1,500 | |
| Equipment rental ($2,400 + $21.00q) | 7,650 | |
| Insurance ($3,900) | 3,900 | |
| Miscellaneous ($530 + $1.42q) | 885 | |
| Total expense | 56,435 | |
| Net operating income | $ | 51,065 |
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.)
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