Connect EXERCISE 9–1 Prepare a Flexible Budget LO9-1 aset Sound Divers is a company that provides diving services such as underwater ship repairs to Mc Graw Hill ducation nts in the Puget Sound area. The company's 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) Supplies ($3.00q) ..... Equipment rental ($1,800 + $32.00q) ..... Insurance ($3,400) Miscellaneous ($630 + $1.80q) .... 20,500 300 5,000 3,400 810 30,010 Total expense $ 6,490 Net operating income ... During May, the company's actual activity was 105 diving-hours. Required: Using Exhibit 9–5 as your guide, prepare a flexible budget for May.
Connect EXERCISE 9–1 Prepare a Flexible Budget LO9-1 aset Sound Divers is a company that provides diving services such as underwater ship repairs to Mc Graw Hill ducation nts in the Puget Sound area. The company's 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) Supplies ($3.00q) ..... Equipment rental ($1,800 + $32.00q) ..... Insurance ($3,400) Miscellaneous ($630 + $1.80q) .... 20,500 300 5,000 3,400 810 30,010 Total expense $ 6,490 Net operating income ... During May, the company's actual activity was 105 diving-hours. Required: Using Exhibit 9–5 as your guide, prepare a flexible budget for May.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Connect
EXERCISE 9–1 Prepare a Flexible Budget LO9-1
aset Sound Divers is a company that provides diving services such as underwater ship repairs to
Mc
Graw
Hill
ducation
nts in the Puget Sound area. The company's 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)
Supplies ($3.00q) .....
Equipment rental ($1,800 + $32.00q) .....
Insurance ($3,400)
Miscellaneous ($630 + $1.80q) ....
20,500
300
5,000
3,400
810
30,010
Total expense
$ 6,490
Net operating income ...
During May, the company's actual activity was 105 diving-hours.
Required:
Using Exhibit 9–5 as your guide, prepare a flexible budget for May.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc14bdca8-da08-405f-b137-8b2bbcc8c41c%2F2a877932-ab76-4049-8748-537479e30a71%2Frlxr5eh.jpeg&w=3840&q=75)
Transcribed Image Text:Connect
EXERCISE 9–1 Prepare a Flexible Budget LO9-1
aset Sound Divers is a company that provides diving services such as underwater ship repairs to
Mc
Graw
Hill
ducation
nts in the Puget Sound area. The company's 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)
Supplies ($3.00q) .....
Equipment rental ($1,800 + $32.00q) .....
Insurance ($3,400)
Miscellaneous ($630 + $1.80q) ....
20,500
300
5,000
3,400
810
30,010
Total expense
$ 6,490
Net operating income ...
During May, the company's actual activity was 105 diving-hours.
Required:
Using Exhibit 9–5 as your guide, prepare a flexible budget for May.
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