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 Planning Budget For the Month Ended May 31 200 Budgeted diving-hours (q) Revenue ($400.00g) Expenses 36,100 1,000 6,300 3,900 830 Wages and salaries ($11,700$122.00q) Supplies ($5.00q) Equipment rental ($2,100+ $21.00q) Insurance ($3,900) Miscellaneous ($530+$1.50q) Total expense Net operating income S 31,870 Required During May, the company's activity was actually 190 diving-hours. Complete the following flexible budget for that level of activity. (Round your final answer to nearest dollar amount.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses Wages and salaries Supplies Equipment rental Miscellaneous Total expense Net operating income

Explanation / Answer

Prepare flexible budget :

Revenue 76000 Expenses Wages and salaries 34880 Supplies 950 Equipment rental 6090 Insurance 3900 Miscellaneous 815 Total expenses 46635 Net operating income 29365

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