eswExercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1]Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the PugetSound area. The company's planning budget for May appears below:Puget Sound DiversPlanning BudgetFor the Month Ended May 31Budgeted diving-hours (q)Revenue ($390.00q)Expenses:Wages and salaries ($11,200 + $126.00q)Supplies ($4.00q)Equipment rental ($2,300 + $22.00q)Insurance ($4,200)Miscellaneous ($500+ $1.46q)Total expenseNet operating incomeDuring May, the company's actual activity was 340 diving-hours.350$ 136,500Puget Sound DiversFlexible BudgetFor the Month Ended May 31< PrevRequired:Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)55,3001,40010,0004,2001,01171,911$ 64,5891 of 6Check my workNext > Net operating incomeDuring May, the company's actual activity was 340 diving-hours.Required:Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.Puget Sound DiversFlexible BudgetFor the Month Ended May 31RevenueExpenses:Wages and salariesSuppliesEquipment rentalInsuranceMiscellaneousTotal expenseNet operating income$00$ 64,589< Prev1 of 6Next >

ound 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) Revenue ($390.00q) 350 $ 136,500 Expenses: Wages and salaries ($11,200 + $126.00g) Supplies ($4.00q) Equipment rental ($2,300 + $22.00q) Insurance ($4,200) Miscellaneous ($500 + $1.46q) Total expense Net operating income During May, the company's actual activity was 340 diving-hours. 55,300 1,400 10,000 4,200 1,011 71,911 $ 64,589 Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)

ound 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) Revenue ($390.00q) 350 $ 136,500 Expenses: Wages and salaries ($11,200 + $126.00g) Supplies ($4.00q) Equipment rental ($2,300 + $22.00q) Insurance ($4,200) Miscellaneous ($500 + $1.46q) Total expense Net operating income During May, the company's actual activity was 340 diving-hours. 55,300 1,400 10,000 4,200 1,011 71,911 $ 64,589 Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 company's planning budget for May appears below: Budgeted diving-hours (9) Revenue ($440.009) Expenses: Wages and salaries ($11,700 + $120.009) Supplies ($3.00q) Equipment rental ($2,500 + $22.009) Insurance ($4,000) Miscellaneous ($540+ $1.44g) Total expense Net operating income During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Revenue Expenses: Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget Month Ended May 31 Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income 300 $ 132,000 47,700 900 9,100 4,000 972 62,672 $ 69,328
Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($460.00q) Expenses: Wages and salaries ($11,200 +$126.00q) Supplies ($5.00q) Equipment rental ($2,400 + $20.00q) Insurance ($4,000) Miscellaneous ($540 + $1.50q) Total expenses Net operating income. 250 $ 115,000 42,700 1,250 7,400 4,000 915 56,265 $ 58,735 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number.
Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Budgeted diving-hours (9) Revenue ($450.009) Expenses: Wages and salaries ($11,700 + $122.009) Supplies ($5.009) Equipment rental ($2,400 + $24.009) Insurance ($3,800) Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Miscellaneous ($540+ $1.469) Total expense Net operating income During May, the company's actual activity was 390 diving-hours. Wages and salaries Supplies Equipment rental Insurance. Miscellaneous Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Total expense Net operating income. 400 $ 180,000 $ 60,500 2,000 12,000 0 0 3,800 1,124 79,424 $ 100,576
Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($430.009) Expenses: Wages and salaries ($12,000 + $124.00q) Supplies ($5.00q) Equipment rental ($2,000 + $25.00q) Insurance ($4,100) Miscellaneous ($520 + $1.48q) Total expense Net operating income 350 $ 150,500 55,400 1,750 10,750 4,100 1,038 73,038 $ 77,462 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income
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Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1] Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Budgeted diving-hours (q) Revenue ($470.00q) Puget Sound Divers Planning Budget For the Month Ended May 31 Expenses: Wages and salaries ($11,600+ $122.00q) Supplies ($4.00q) Equipment rental ($2,400 + $24.00q) Insurance ($4,100) Miscellaneous ($520+ $1.44q) Total expense Net operating income Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ 300 $ 141,000 0 0 48,200 1,200 9,600 4,100 952 64,052 $76,948
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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 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 +$125.009) 20,500 Supplies ($3.009) 300 Equipment rental ($1,800+ $32.009) 5,000 3,400 Miscellaneous ($630 +$1.809) 810 30,010 $ 6,490 Insurance ($3,400) Total expense Net operating income During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income
Flight Café prepares in-flight meals for airlines and its planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.20q) Expenses: Raw materials ($2.209) Wages and salaries ($6,500 + $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,100) Insurance ($2,900) Miscellaneous ($800 + $0.109) Total expenses Net operating income 26,000 $ 109,200 57,200 11,700 3,200 3,100 2,900 3,400 81,500 $ 27,700 In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.20q) Expenses: Raw materials ($2.209) Wages and salaries ($6,500+ $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,100) Insurance ($2,900) Miscellaneous ($800+ $0.10q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 27,000 $ 113,400 59,400 11,900 3,250 3,100 2,900 3,500…
Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (g) Revenue (1440.000) Expenses: Wages and salaries ($11,300 $130.00g) Supplies ($5.00g) Revenue Expenses Equipment rental ($2,500+ $25.00g) Insurance (14,000) Miscellaneous ($510 $1.500) Total expenses Net operating income During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental insurance Total expenses Net operating income 200 $ 88,000 0 37,300 1,000 7,500 4,000 810 50,610 $ 37,390
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