Puget Sound Divers is a company that provides diving services such as underwater ship repairs to...

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Puget Sound Divers is a company that provides diving services such as underwater ship repairs to...

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)		350

Revenue ($480.00q)	$	168,000
Expenses:
Wages and salaries ($11,100 + $124.00q)		54,500
Supplies ($5.00q)		1,750
Equipment rental ($2,300 + $24.00q)		10,700
Insurance ($3,800)		3,800
Miscellaneous ($530 + $1.48q)		1,048
Total expense		71,798
Net operating income	$	96,202

During May, the company’s actual activity was 340 diving-hours.

Required:

Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)

business accounting

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Answer 1

Answer #1


	Flexible Budget

Actual activity			340

Revenue	(340*480)		163200
Expenses:
Wages & salaries		(11,100+340*124)	53260
Supplies		(340*5)	1700
Equipment rental		(2300+24*340)	10460
insurance			3,800
miscellaneous		(530+1.48*340)	1033
Total expense			70253
net operating income			92947

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Answer 2

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