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:

During May, the company’s activity was actually 190 diving-hours. Complete the following flexible budget for that level of activity. (Round your answers to nearest whole dollar.)

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:

Explanation / Answer

Flexible Budget Actual diving-hours 190 Revenue 74100 Expenses: Wages and salaries 34860 =11300+(190*124) Supplies 570 =190*3 Equipment rental 6290 =2300+(190*21) Insurance 4100 Miscellaneous 784 =510+(190*1.44) Total expense 46604 Net operating income 27496

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