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 31Budgeted diving-hours (q)350Revenue ($470.00q)$ 164,500Expenses: Wages and salaries ($11,000 + $122.00q)53,700Supplies ($4.00q)1,400Equipment rental ($2,000 + $25.00q)10,750Insurance ($3,900)3,900Miscellaneous ($540 + $1.42q)1,037Total expense70,787Net operating income$ 93,713
During May, the company’s actual activity was 340 diving-hours.
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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)
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Revenue ($470.00q)
Expenses:
Wages and salaries ($11,000 +
$122.00q)
Supplies ($4.00q)
Equipment rental ($2,000 +
$25.00q)
Insurance ($3,900)
Miscellaneous ($540 + $1.42q)
Total expense
Net operating income
350
$
164,500
53,700
1,400
10,750
3,900
1,037
70,787
$ 93,713
During May, the company’s actual activity was 340 diving-hours.
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
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