esPuget 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 ($470.00q)Puget Sound DiversPlanning BudgetFor the Month Ended May 31Expenses:Wages and salaries ($11,400 + $126.00g)Supplies ($3.00q)Equipment rental ($2,100 + $23.00q)Insurance ($4,000)Miscellaneous ($530+ $1.42q)Total expensesNet operating incomeRevenueExpensesDuring May, the company's actual activity was 390 diving-hours.Required:Prepare a flexible budget for May.Note: Round your answers to the nearest whole number.Puget Sound DiversFlexible BudgetFor the Month Ended May 31Wages and salariesSuppliesEquipment rentalInsuranceMiscellaneous400$ 188,00061,8001,20011,3004,0001,09879,398TEFAL$ 108,602

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 ($470.00q) 400 $ 188,000 Expenses: Wages and salaries ($11,400 + $126.00g) Supplies ($3.009) Equipment rental ($2,100 + $23.00q) Insurance ($4,000) Miscellaneous ($530+ $1.42q) Total expenses Net operating income During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. 61,800 1,200 11,300 4,000 1,098 79,398 $ 108,602

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 ($470.00q) 400 $ 188,000 Expenses: Wages and salaries ($11,400 + $126.00g) Supplies ($3.009) Equipment rental ($2,100 + $23.00q) Insurance ($4,000) Miscellaneous ($530+ $1.42q) Total expenses Net operating income During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. 61,800 1,200 11,300 4,000 1,098 79,398 $ 108,602

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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Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company’s operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flexible Budget Planning Budget Flights (q) 53 53 51 Revenue ($355.00q) $ 16,300 $ 18,815 $ 18,105 Expenses: Wages and salaries ($3,600 + $92.00q) 8,432 8,476 8,292 Fuel ($31.00q) 1,811 1,643 1,581 Airport fees ($880 + $34.00q) 2,572 2,682 2,614 Aircraft depreciation ($11.00q) 583 583 561 Office expenses ($200 + $1.00q) 421 253 251 Total expense 13,819 13,637 13,299 Net operating income $ 2,481 $ 5,178 $ 4,806 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and…
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) 400 Revenue ($460.00q) $ 184,000 Expenses: Wages and salaries ($11,200 + $128.00q) 62,400 Supplies ($5.00q) 2,000 Equipment rental ($2,300 + $21.00q) 10,700 Insurance ($4,100) 4,100 Miscellaneous ($520 + $1.50q) 1,120 Total expense 80,320 Net operating income $ 103,680 During May, the company’s actual activity was 390 diving-hours. DO NOT GIVE SOLUTION IN IMAGE FORMAT Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.)
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