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) 350 Revenue ($450.00g) Expenses: Wages and salaries ($11,300 + $120.00g) Supplies ($4.00g) Equipment rental ($2,100 + $21.00g) Insurance ($3,800) Miscellaneous ($530 + $1.46g) Total expense $157, 500 53,300 1,400 9,450 3,800 1,041 68,991 $ 88,509 Net operating income 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 number.) During May, the company's actual activity was 340 diving-hours. 10 points Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Skipped Puget Sound Divers Flexible Budget eBook For the Month Ended May 31 Hint Actual diving-hours Print Budgeted diving-hours Supplies References Equipment rental Insurance Miscellaneous Total expense Net operating income

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Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.