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: Budgeted diving-hours (9) Revenue ($450.00g) Expenses: Wages and salaries ($11,700 + $122.009) Supplies ($5.009) Equipment rental ($2,400 + $24.009) Insurance ($3,800) Miscellaneous ($540+ $1.469) Total expense Net operating income. During May, the company's actual activity was 390 diving-hours. Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Total expense Net operating income $ 400 $ 180,000 0 0 60,500 2,000 12,000 3,800 1,124 79,424 $ 100,576
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.
![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:
Budgeted diving-hours (9)
Revenue ($450.009)
Expenses:
Wages and salaries ($11,700 + $122.009)
Supplies ($5.009)
Equipment rental ($2,400 + $24.009)
Insurance ($3,800)
Puget Sound Divers
Planning Budget
For the Month Ended May 31
Puget Sound Divers
Flexible Budget
For the Month Ended May 31
Revenue
Expenses:
Miscellaneous ($540+ $1.469)
Total expense
Net operating income
During May, the company's actual activity was 390 diving-hours.
Wages and salaries
Supplies
Equipment rental
Insurance.
Miscellaneous
Required:
Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)
Total expense
Net operating income.
400
$ 180,000
$
60,500
2,000
12,000
0
0
3,800
1,124
79,424
$ 100,576](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd490a45f-676e-490d-b66e-a94ff7e01560%2Fa1248ecb-2c75-47d0-a7a5-810c7160a91d%2F538ygck_processed.jpeg&w=3840&q=75)
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