Puget Sound Divers is a company that provides diving services such as underwater

Question

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 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:

Required: During May, the company's activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity. (Round your answers to nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Equipment rental Insurance Miscellaneous Total expense Net

Explanation / Answer

Answer

puget sound divers flexible budget

for the month ended may 31

10

revenue ( 450 * 240 ) 108000 expenses wages and salaries ( 11800 + 124 * 240 ) 41560 supplies ( 4 * 240 ) 960 equipment rental ( 2300 + 21 * 240 ) 7340 insurance 3900 miscellaneous ( 510 + 1.44 * 240 ) 855.60 total expense 54615.60 net operating income 53384.40

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