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Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The...

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Accounting

Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The companys planning budget for May appears below:
Puget Sound Divers
Planning Budget
For the Month Ended May 31
Budgeted diving-hours (q)350
Revenue ($470.00q) $ 164,500
Expenses:
Wages and salaries ($11,200+ $126.00q)55,300
Supplies ($3.00q)1,050
Equipment rental ($2,300+ $25.00q)11,050
Insurance ($3,900)3,900
Miscellaneous ($550+ $1.50q)1,075
Total expenses 72,375
Net operating income $ 92,125
During May, the companys actual activity was 340 diving-hours.
Required:
Prepare a flexible budget for May.
Note: Round your answers to the nearest whole number.

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