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 Budgeted diving-hours (q) Revenue (S430.00q) 350 $150,500 Expenses Wages and salaries ($11,600 $126.00q) Supplies ($4.00q) Equipment rental ($2,300 $21.00q) Insurance ($4,000) Miscellaneous ($540$1.50q) 55,700 1,400 9,650 4,000 1,065 Total expense 71,815 Net operating income $ 78,685 Required During May, the company's activity was actually 340 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 Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income 0

Explanation / Answer

Flexible budget :

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Actual hours 340 Revenue 146200 Expense Wages and salaries 54440 Supplies 1360 Equipment rental 9440 Insurance 4000 Miscellaneous 1050 Total expense 70290 Net operating income 75910

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