Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 300 Revenue ($390.00g) Expenses: Wages and salaries ($11,700 + $126.00g) Supplies ($5.00g) Equipment rental ($2,300 + $22.00g) Insurance ($3,900) Miscellaneous ($510 + $1.46g) Total expense $117,000 49,500 1,500 8,900 3,900 948 64,748 $ 52,252 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 Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income
Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 300 Revenue ($390.00g) Expenses: Wages and salaries ($11,700 + $126.00g) Supplies ($5.00g) Equipment rental ($2,300 + $22.00g) Insurance ($3,900) Miscellaneous ($510 + $1.46g) Total expense $117,000 49,500 1,500 8,900 3,900 948 64,748 $ 52,252 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 Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Puget Sound Divers
Planning Budget
For the Month Ended May 31
Budgeted diving-hours (q)
300
Revenue ($390.00g)
Expenses:
Wages and salaries ($11,700 + $126.00g)
Supplies ($5.00g)
Equipment rental ($2,300 + $22.00g)
Insurance ($3,900)
Miscellaneous ($510 + $1.46g)
Total expense
$117,000
49,500
1,500
8,900
3,900
948
64,748
$ 52,252
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
Flexible Budget
For the Month Ended May 31
Revenue
Expenses:
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Total expense
Net operating income
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