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 Hay 31 Budgeted diving-hours (e) 300 Revenue ($380.e0) Expenses wages and salaries ($11,700 $122.00g) Supplies ($5.0a) Equipnent rental ($2,400 + $22.009) Insurance ($4,100) Miscellaneous ($530. $1.500) Total expense $114, 000 48, 300 1,s00 9,000 4,100 980 63, 880 $ 30,120 Net operating incone During May, the company's actual activity was 290 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 Hay 31 Budgeted diving-hours (e) 300 Revenue ($380.e0) Expenses wages and salaries ($11,700 $122.00g) Supplies ($5.0a) Equipnent rental ($2,400 + $22.009) Insurance ($4,100) Miscellaneous ($530. $1.500) Total expense $114, 000 48, 300 1,s00 9,000 4,100 980 63, 880 $ 30,120 Net operating incone During May, the company's actual activity was 290 diving-hours

Name: Prepare a flexible budget for May. (Round your answers to the nearest
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Description: Prepare a flexible budget for May. (Round your answers to the nearest whole number.)Puget Sound DiversFlexible BudgetFor the Month Ended May 31RevenueExpenses:Wages and salariesSuppliesEquipment rentalInsuranceMiscellaneousTotal expenseNet operating

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 Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 300 Revenue ($400.00g) $ 120,000 Expenses: Wages and salaries ($11,800 + $126.00q) 49,600 Supplies ($5.00q) 1,500 Equipment rental ($2,200 + $21.00g) 8,500 Insurance ($3,800) 3,800 Miscellaneous ($540 + $1.46q) 978 Total expense 64,378 Net operating income $ 55,622 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 dollar.)
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Prepare a flexible budget for May. (Round your answers to the nearest whole number.)
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