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) 300
Revenue ($420.00q) $ 126,000
Expenses:
Wages and salaries ($11,400 + $122.00q) 48,000
Supplies ($6.00q) 1,800
Equipment rental ($2,100 + $24.00q) 9,300
Insurance ($4,100) 4,100
Miscellaneous ($540 + $1.48q) 984
Total expense 64,184
Net operating income $ 61,816

During May, the company’s actual activity was 290 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

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Answer #1

Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving - hours 2901 121800 Revenue: Expenses: Wages and

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