205Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients inthe Puget Sound area. The company's planning budget for May appears below: Puget Sound DiversPlanning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($470.00q) Expenses:Wages and salaries ($11,500+$124.00q) Supplies ($4.00q) Equipment rental ($2,300+$23.00q) Insurance ($3,800) Miscellaneous ($500+$1.48q) Total expense Net operating income During May, the company's actualactivity was 290 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to thenearest whole number.)Puget Sound DiversPlanning BudgetFor the Month Ended May 31Puget 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 ($470.00g)Expenses:Wages and salaries ($11,500+ $124.80g)Supplies ($4.00g)Equipment rental ($2,300+ $23.00g)Insurance ($3,880)300$ 141,00048,7001,208J9.2003,80094463,844$77,156ĆMiscellaneous ($500+ $1.48g)Total expenseNet operating income.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).

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 ($470.000) Expenses: Wages and salaries ($11,500+ $124.00g) Supplies ($4.00g) Equipment rental ($2,300 $23.00g) Insurance ($3,880) 300 $ 141,000 48,700 1,208 9,200 3,000 944 63,844 $77,156 Miscellaneous ($500+ $1.48g) Total expense Net operating income 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.)

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 ($470.000) Expenses: Wages and salaries ($11,500+ $124.00g) Supplies ($4.00g) Equipment rental ($2,300 $23.00g) Insurance ($3,880) 300 $ 141,000 48,700 1,208 9,200 3,000 944 63,844 $77,156 Miscellaneous ($500+ $1.48g) Total expense Net operating income 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.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

es w 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: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted 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 expense Net operating income During May, the company's actual activity was 340 diving-hours. 350 $ 136,500 Puget Sound Divers Flexible Budget For the Month Ended May 31
Meman
Please solve all 4 requirements
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
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 (g) Revenue ($3.98q) Expenses: Raw materials ($2.289) Wages and salaries ($6,300 + $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,300). Insurance ($2,200) Miscellaneous ($800 +$0.109) Total expenses Net operating income 26,000 $ 101,400 57,200 11,500 3,200 3,300 2,200 3,400 80,800 $ 20,600 In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below: Budgeted meals (q) Revenue ($3.90q) Expenses: Flight Café Flexible Budget For the Month Ended July 31 Raw materials ($2.209) Wages and salaries ($6,300+ $0.209) Utilities ($1,900 +$0.059) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($800 +$0.109) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 27,000 $ 105,300 59,400 11,700 3,250 3,300 2,200 3,500…
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.)
H
Mayo Clinic uses patient-visits as its measure of activity. During September, the clinic budgeted for 3,000 patient-visits, but its actual level of activity was 2,900 patient-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for September: Data used in budgeting: Revenue Personnel expenses Medical supplies. Occupancy expenses. Administrative expenses.. Actual results for September: Revenue Personnel expenses. Medical supplies. Occupancy expenses. Administrative expenses..... Fixed element per month $27,600 $1,500 $6,200 $3,600 $105,010 $61,020 $22,120 $10,930 $4,570 Variable element per patient-visit $37.20 $11.30 $6.80 $1.70 $0.30 Compute the total Revenue variance (due to a difference in the actual amount collected per customer from expected). State answer as a positive.
answer in text form please (without image)
Schedule of cash payments for a service company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $26,200. The budgeted expenses for the next three months are as follows: January February March Salaries $60,300 $73,400 $81,200 Utilities 5,000 5,500 6,600 Other operating expenses 46,400 50,600 $5,700 Total $111,700 $129,500 $143,500 Other operating expenses include $3,300 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year of the remaining expenses, 80% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. EastGate Physical Therapy Inc. Schedule of Cash Payments for…
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 (9) Revenue ($4.28q) Expenses: Raw materials ($2.309) Wages and salaries ($6,200 $0.289) Utilities ($2,100 + $0.05q) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($400 + $0.10) Total expenses Net operating income 23,000 $ 96,600 52,900 10,800 3,250 3,300 2,200 2,700 75,158 $ 21,450 In July, 24,000 meals were actually served. The company's flexible budget for this level of activity appears below. Budgeted meals (q) Revenue ($4.28q) Expenses: Flight Café Flexible Budget For the Month Ended July 31 Raw materials ($2.389) Wages and salaries ($6,200+ $0.209) Utilities ($2,100 + $0.059) Facility rent ($3,300) Insurance ($2,200) Miscellaneous ($400 +$0.18q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 24,000 $ 100,800 55,200 11,000 3,300 3,300 2,200 2,800…
Based on the unadjusted trial balance for Executive Styling and the adjusting information given below, prepare the adjusting journal entries for Executive Styling. Executive Stylings' unadjusted trial balance for the current year follows: Executive Styling Trial Balance December 31 $ 2.200 Cash Prepaid insurance- Shop wpplies Shop equipment Accumulated depreciation-shop equipment Building 790 $ 70 59.500 Accumulated depreciation-building Land 140 S5.000 Uneamed rent 2.600 50.000 Long-term notes payable Bella Hanson, Capital O 2.400 21.400 Rent earned. Fees earned Wages expense. Utilities expene Property taes expense Interest expente Totals 1.200 600 SLA SILAZO Additional information: a. An insurance policy examination showed $1,130 of expired insurance. b. b. An inventory count showed $103 of unused shop supplies still available. c. Depreciation expense on shop equipment, $235. e. A beautician is behind on space rental payments, and this $300 of accrued revenues was unrecorded at the…