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 he company's planning budget for May appears below: Puget Sound Divers Planning Budget Forthe Month Ended May 31 Budgeted diving-hours (g) 400 $192,000 Revenue ($480.00g) Expenses: Wages and salaries ($11,700 + $122.00g) Supplies ($6.00g) Equipment rental ($2,300 $22.00g) Insurance ($3,800) Miscellaneous ($520 + $1.46q) 60,500 2,400 11,100 3,800 1,104 78,904 $113,096 Total expense Net operating income During May, the company's actual activity was 390 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

Explanation / Answer

Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving hours 390 Amount($) Revenue ($480 x 390 hours) 187,200 Expenses: Wages and salaries ($11,700 + ($122 x 390 hours)) 59,280 Supplies ($6 x 390 hours) 2,340 Equipment rental ($2,300 +($22.00 x 390 hours)) 10,880 Insurance 3,800 Miscellaneous ($520 + ($1.46 x 390 hours)) 1,089 Total expanse 77,389 Net operating income $109,811

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