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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 (9) 400 Revenue ($450.009) Expenses: Wages and salaries ($11,200 + $124.009) Supplies ($5.009) Equipment rental ($2,100 + $25.009) Insurance ($4,100) Miscellaneous ($550 + $1.449) Total expense Net operating income $ 180,000 60,800 2,000 12,100 4,100 1,126 80,126 $ 99,874 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 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income

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) 400 Revenue ($450.009) Expenses: Wages and salaries ($11,200 + $124.009) Supplies ($5.009) Equipment rental ($2,100 + $25.009) Insurance ($4,100) Miscellaneous ($550 + $1.449) Total expense Net operating income $ 180,000 60,800 2,000 12,100 4,100 1,126 80,126 $ 99,874 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 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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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 (9) 400 Revenue ($450.009) Expenses: Wages and salaries ($11,200 + $124.009) Supplies ($5.009) Equipment rental ($2,100 + $25.009) Insurance ($4,100) Miscellaneous ($550 + $1.449) Total expense Net operating income $ 180,000 60,800 2,000 12,100 4,100 1,126 80,126 $ 99,874 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 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income
Transcribed Image Text: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) 400 Revenue ($450.009) Expenses: Wages and salaries ($11,200 + $124.009) Supplies ($5.009) Equipment rental ($2,100 + $25.009) Insurance ($4,100) Miscellaneous ($550 + $1.449) Total expense Net operating income $ 180,000 60,800 2,000 12,100 4,100 1,126 80,126 $ 99,874 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 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income
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