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 ($470.00g) Expenses: Wages and salaries ($11,500+ $124.00g) 200 $ 94,000 36,300 1,000 6,100 3,800 818 Supplies ($5.00g) Equipment rental ($2,100 + $20.00g) Insurance ($3,800) Miscellaneous ($530+ $1.44g) 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. 48,018 $ 45,982
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 ($470.00g) Expenses: Wages and salaries ($11,500+ $124.00g) 200 $ 94,000 36,300 1,000 6,100 3,800 818 Supplies ($5.00g) Equipment rental ($2,100 + $20.00g) Insurance ($3,800) Miscellaneous ($530+ $1.44g) 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. 48,018 $ 45,982
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1]
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 ($470.00g)
Expenses:
Wages and salaries ($11,500 + $124.00g)
Supplies ($5.00g)
Equipment rental ($2,100 + $20.00g)
Insurance ($3,800)
Miscellaneous ($530+ $1.44g)
Total expenses
Net operating income
200
$ 94,000
36,300
1,000
6,100
3,800
818
48,018
$ 45,982
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa47eb71a-86b2-4c29-a952-2b7937478331%2F2821bf00-bafc-4b99-843f-3525d7fd0355%2F8lhclg_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1]
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 ($470.00g)
Expenses:
Wages and salaries ($11,500 + $124.00g)
Supplies ($5.00g)
Equipment rental ($2,100 + $20.00g)
Insurance ($3,800)
Miscellaneous ($530+ $1.44g)
Total expenses
Net operating income
200
$ 94,000
36,300
1,000
6,100
3,800
818
48,018
$ 45,982
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.
Transcribed Image Text:Revenue
Expenses:
Puget Sound Divers
Flexible Budget
For the Month Ended May 31
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Total expenses
Net operating income
$
0
0
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