Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for Mayappears below:Budgeted diving-hours (q)Revenue ($390.00q)Puget Sound DiversPlanning BudgetFor the Month Ended May 31Expenses:Wages and salaries ($12,000+ $130.00g)RevenueExpenses:Supplies ($4.00q)Equipment rental ($2,200 + $25.00g)Insurance ($4,000)Miscellaneous ($520+ $1.48q)Total expensesNet operating incomeDuring May, the company's actual activity was 340 diving-hours.Required:Prepare a flexible budget for May.Note: Round your answers to the nearest whole number.MiscellaneousTotal expensesPuget Sound DiversFlexible BudgetFor the Month Ended May 31Wages and salariesSuppliesEquipment rentalInsurance350$ 136,50057,5001,40010,9504,0001,03874,888$ 61,612

The flexible budget is prepared for actual level of production on the basis of the standard rate of…

Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. 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 ($12,000+ $130.00q) Supplies ($4.00q) Equipment rental ($2,200 + $25.00g) Insurance ($4,000) Miscellaneous ($520+ $1.48g) Total expenses Net operating income 350 $ 136,500 57,500 1,400 10,950 4,000 1,038 74,888 $ 61,612 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number.

Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. 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 ($12,000+ $130.00q) Supplies ($4.00q) Equipment rental ($2,200 + $25.00g) Insurance ($4,000) Miscellaneous ($520+ $1.48g) Total expenses Net operating income 350 $ 136,500 57,500 1,400 10,950 4,000 1,038 74,888 $ 61,612 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. Note: 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

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Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. 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 ($11,200 +$126.00q) Supplies ($5.00q) Equipment rental ($2,400 + $20.00q) Insurance ($4,000) Miscellaneous ($540 + $1.50q) Total expenses Net operating income. 250 $ 115,000 42,700 1,250 7,400 4,000 915 56,265 $ 58,735 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. Note: 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: 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
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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 DiversPlanning BudgetFor the Month Ended May 31 Budgeted diving-hours (q) 250 Revenue ($410.00q) $ 102,500 Expenses: Wages and salaries ($11,100 + $124.00q) 42,100 Supplies ($6.00q) 1,500 Equipment rental ($2,500 + $23.00q) 8,250 Insurance ($4,000) 4,000 Miscellaneous ($520 + $1.44q) 880 Total expense 56,730 Net operating income $ 45,770 During May, the company’s actual activity was 240 diving-hours. Required: Prepare a flexible budget for May.
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) 100 Revenue ($365.00q) $ 36,500 Expenses: Wages and salaries ($8,000 +$125.009) 20,500 Supplies ($3.009) 300 Equipment rental ($1,800+ $32.009) 5,000 3,400 Miscellaneous ($630 +$1.809) 810 30,010 $ 6,490 Insurance ($3,400) Total expense Net operating income During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. 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 provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (g) Revenue (1440.000) Expenses: Wages and salaries ($11,300 $130.00g) Supplies ($5.00g) Revenue Expenses Equipment rental ($2,500+ $25.00g) Insurance (14,000) Miscellaneous ($510 $1.500) Total expenses Net operating income During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental insurance Total expenses Net operating income 200 $ 88,000 0 37,300 1,000 7,500 4,000 810 50,610 $ 37,390
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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.)
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 (g) Revenue ($365.00g) Puget Sound Divers Planning Budget For the Month Ended May 31 Expenses: Wages and salaries ($8,000+ $125.00g) Supplies ($3.00g) Equipment rental ($1,800+ $32.00g) Insurance ($3,400) Miscellaneous ($630+ $1.80g) Total expense Net operating income. Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses: During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ $ 105✔ 38,325 21,125 315✓ 5,250 x 3,400 819 100 $ 36,500 30,909 7,416 20,500 300 5,000 3,400 810 30,010 $ 6,490
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