appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($450.00g) Expenses: Wages and salaries ($11,700+ $120.009) Supplies ($5.00g) Equipment rental ($2,000+ $22.009) Insurance ($3,900) 400 $ 180,000 59,700 2,000 10,800 3,900 1,142 77,542 $ 102,458 Miscellaneous ($550 + $1.48q) Total expenses Net operating income During May, the company's actual activity was 390 diving-hours.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May
appears below:
Budgeted diving-hours (9)
Revenue ($450.009)
Revenue
Expenses:
Expenses:
Wages and salaries ($11,700 + $120.009)
Supplies ($5.009)
Equipment rental ($2,000 + $22.009)
Insurance ($3,900)
Miscellaneous ($550 + $1.489)
Total expenses
Net operating income.
During May, the company's actual activity was 390 diving-hours.
Required:
Prepare a flexible budget for May.
Note: Round your answers to the nearest whole number.
Puget Sound Divers
Planning Budget
For the Month Ended May 31
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Puget Sound Divers
Flexible Budget
For the Month Ended May 31
Total expenses
Net operating income
$
400
$ 180,000
0
0
59,700
2,000
10,800
3,900
1,142
77,542
$ 102,458
Transcribed Image Text:Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Budgeted diving-hours (9) Revenue ($450.009) Revenue Expenses: Expenses: Wages and salaries ($11,700 + $120.009) Supplies ($5.009) Equipment rental ($2,000 + $22.009) Insurance ($3,900) Miscellaneous ($550 + $1.489) Total expenses Net operating income. During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Puget Sound Divers Planning Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental Insurance Miscellaneous Puget Sound Divers Flexible Budget For the Month Ended May 31 Total expenses Net operating income $ 400 $ 180,000 0 0 59,700 2,000 10,800 3,900 1,142 77,542 $ 102,458
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