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) 200 Revenue ($440.009) Expenses: Wages and salaries ($11,900 + $130.00q) Supplies ($4.009) Equipment rental ($2,100 + $22.009) Insurance ($3,900) Miscellaneous ($520 + $1.50q) Total expense Net operating income $ 88,000 37,900 800 6,500 3,900 820 49,920 $ 38,080 During May, the company's actual activity was 190 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 0 Net operating income S 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 Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 200 Revenue ($440.009) Expenses: Wages and salaries ($11,900 + $130.00q) Supplies ($4.009) Equipment rental ($2,100 + $22.009) Insurance ($3,900) Miscellaneous ($520 + $1.50q) Total expense Net operating income $ 88,000 37,900 800 6,500 3,900 820 49,920 $ 38,080 During May, the company's actual activity was 190 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 0 Net operating income S 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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