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 ($390.009) Expenses: Wages and salaries ($11,200 + $126.00q) Supplies ($5.00q) Equipment rental ($2,100 + $23.00q) Insurance ($3,900) Miscellaneous ($510 +$1.44q) Total expenses Net operating income 350 $ 136,500 55,300 1,750 10,150 3,900 1,014 72,114 $ 64,386 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 Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expenses 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 (q) Revenue ($390.009) Expenses: Wages and salaries ($11,200 + $126.00q) Supplies ($5.00q) Equipment rental ($2,100 + $23.00q) Insurance ($3,900) Miscellaneous ($510 +$1.44q) Total expenses Net operating income 350 $ 136,500 55,300 1,750 10,150 3,900 1,014 72,114 $ 64,386 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 Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expenses Net operating income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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 ($11,200 + $126.00q)
Supplies ($5.00q)
Equipment rental ($2,100 + $23.00q)
Insurance ($3,900)
Miscellaneous ($510 + $1.44q)
Total expenses
Net operating income
350
$ 136,500
55,300
1,750
10,150
3,900
1,014
72,114
$ 64,386
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
Flexible Budget
For the Month Ended May 31
Revenue
Expenses:
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Total expenses
Net operating income
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