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. Budgeted diving-hours (q) Revenue ($440.00g) Expenses: Wages and salaries ($11,300+ $126.00q) Supplies ($4.00g) Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses Equipment rental ($2,100+ $23.00g) Insurance ($4,100) 11,300 4,100 Miscellaneous ($510+ $1.44g) 1,086 79,786 Total expense Net operating income $ 96,214 During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Wages and salaries Supplies Equipment rental Insurance Miscellaneous 400 $ 176,000 61,700 1,600

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. Budgeted diving-hours (q) Revenue ($440.00g) Expenses: Wages and salaries ($11,300+ $126.00q) Supplies ($4.00g) Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses Equipment rental ($2,100+ $23.00g) Insurance ($4,100) 11,300 4,100 Miscellaneous ($510+ $1.44g) 1,086 79,786 Total expense Net operating income $ 96,214 During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Wages and salaries Supplies Equipment rental Insurance Miscellaneous 400 $ 176,000 61,700 1,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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