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 (9) Revenue ($440.00g) Expenses: Wages and salaries ($11,200 + $124.00q) Supplies ($5.00g) Equipment rental ($2,400 + $22.009) Insurance ($4,200) Miscellaneous ($520 + $1.42q) Total expense Net operating income 400 $ 176,000 60,800 2,000 11, 200 4,200 1,088 79,288 $ 96,712 During May, the company's actual activity was 390 diving-hours.

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 (9) Revenue ($440.00g) Expenses: Wages and salaries ($11,200 + $124.00q) Supplies ($5.00g) Equipment rental ($2,400 + $22.009) Insurance ($4,200) Miscellaneous ($520 + $1.42q) Total expense Net operating income 400 $ 176,000 60,800 2,000 11, 200 4,200 1,088 79,288 $ 96,712 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

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: Puget Sound DiversPlanning BudgetFor the Month Ended May 31 Budgeted diving-hours (q) 250 Revenue ($410.00q) $ 102,500 Expenses: Wages and salaries ($11,100 + $124.00q) 42,100 Supplies ($6.00q) 1,500 Equipment rental ($2,500 + $23.00q) 8,250 Insurance ($4,000) 4,000 Miscellaneous ($520 + $1.44q) 880 Total expense 56,730 Net operating income $ 45,770 During May, the company’s actual activity was 240 diving-hours. Required: Prepare a flexible budget for May.
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
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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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) Revenue ($460.00q) Expenses: Wages and salaries ($11,700 + $122.009) Supplies ($4.009) Equipment rental ($2,500 + $23.00q) Insurance ($4,100) Miscellaneous ($510 + $1.44q) Total expense Net operating income 400 $ 184,000 60,500 1,600 11,700 4,100 1,086 78,986 $ 105,014 During May, the company's actual activity was 390 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 Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0
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 DiversPlanning BudgetFor the Month Ended May 31 Budgeted diving-hours (q) 400 Revenue ($460.00q) $ 184,000 Expenses: Wages and salaries ($11,200 + $128.00q) 62,400 Supplies ($5.00q) 2,000 Equipment rental ($2,300 + $21.00q) 10,700 Insurance ($4,100) 4,100 Miscellaneous ($520 + $1.50q) 1,120 Total expense 80,320 Net operating income $ 103,680 During May, the company’s actual activity was 390 diving-hours. DO NOT GIVE SOLUTION IN IMAGE FORMAT Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.)
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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 ($450.00q) Expenses: Wages and salaries ($11,300 + $126.009) Supplies ($4.009) Equipment rental ($2,400 + $25.00g) Insurance ($4,000) Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Miscellaneous ($530+ $1.489) Total expense Net operating income During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Total expense Net operating income 250 $ 112,500 42,800 1,000 8,650 4,000 900 57,350 $ 55,150
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working