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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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)
400
Revenue ($410.00q)
$164,000
Expenses:
Wages and salaries ($11,600 + $128.00q)
Supplies ($6.e0q)
Equipmeht rental ($2,100 + $23.00q)
Insurance ($4,000)
Miscellaneous ($520 + $1.50q)
Total expense
62,800
2,400
11,300
4,000
1,120
81,620
Net operating income
$ 82,380
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 number.)
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Transcribed Image Text: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) 400 Revenue ($410.00q) $164,000 Expenses: Wages and salaries ($11,600 + $128.00q) Supplies ($6.e0q) Equipmeht rental ($2,100 + $23.00q) Insurance ($4,000) Miscellaneous ($520 + $1.50q) Total expense 62,800 2,400 11,300 4,000 1,120 81,620 Net operating income $ 82,380 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 number.) Prev 1 of 10 Next > (?) 近
napter 9 Assignment - required
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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
Вook
Hint
Revenue
Int
Expenses:
ences
Wages and salaries
Supplies
Equipment rental
Insurance
Miscellaneous
Total expense
Net operating income
Prev
1 of 10
Next >
Transcribed Image Text:napter 9 Assignment - required Saved H- 1 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 Вook Hint Revenue Int Expenses: ences Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income Prev 1 of 10 Next >
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