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 beloww Puget Sound Divers Planning Budget For the Month Ended May 31 350 157,500 Revenue (5450.00q) Wages and salaries ($11,800 $128.00q) Supplies (55.00g) Equipment rental ($2,200 +$23.00q) Insurance ($4,100) Miscellaneous ($510+$1.48q) 55,900 1,750 10,250 4.100 1,028 Total expense 73,028 Net operating income 5 84.472 Required: During May, the company's activity was actually 340 diving-hours. Complete the following flexible budget for that level of activity Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Total expense Net operating income

Explanation / Answer

Flexible Budget Revenue 119000 =340*350 Expenses Wages and salaries 54640 =11800+(340*126) Supplies 1700 =340*5 Equipment rental 10020 =2200+(340*23) Insurance 4100 Miscellaneous 1013 =510+(340*1.48) Total expense 71473 Net operating income 47527

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