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 |
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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.)
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 | |||||
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 ($430.00q) $ 150,500 Expenses: Wages and salaries ($11,400 + $130.00q) 56,900 Supplies ($5.00q) 1,750 Equipment rental ($2,300 + $21.00q) 9,650 Insurance ($3,800) 3,800 Miscellaneous ($520 + $1.48q) 1,038 Total expense 73,138 Net operating income...
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 ($420.00q) $ 147,000 Expenses: Wages and salaries ($11,700 + $128.00q) 56,500 Supplies ($5.00q) 1,750 Equipment rental ($2,400 + $24.00q) 10,800 Insurance ($3,800) 3,800 Miscellaneous ($510 + $1.46q) 1,021 Total expense 73,871 Net operating income...
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 ($450.00q) $ 157,500 Expenses: Wages and salaries ($11,800 + $130.00q) 57,300 Supplies ($5.00q) 1,750 Equipment rental ($2,200 + $21.00q) 9,550 Insurance ($3,900) 3,900 Miscellaneous ($530 + $1.44q) 1,034 Total expense 73,534 Net operating income...
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 ($390.00q) $ 136,500 Expenses: Wages and salaries ($11,600 + $126.00q) 55,700 Supplies ($5.00q) 1,750 Equipment rental ($2,000 + $23.00q) 10,050 Insurance ($4,200) 4,200 Miscellaneous ($520 + $1.46q) 1,031 Total expense 72,731 Net operating income...
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 ($450.00q) $ 135,000 Expenses: Wages and salaries ($11,200 + $124.00q) 48,400 Supplies ($6.00q) 1,800 Equipment rental ($2,200 + $24.00q) 9,400 Insurance ($3,800) 3,800 Miscellaneous ($530 + $1.44q) 962 Total expense 64,362 Net operating income...
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 ($470.00q) Expenseв Wages and salaries ($11,100 $122.00q) Supplies ($4.00q) Equipment rental ($2,100$24.00q) Insurance ($4,100) Miscellaneous ($530$1.50q) Total expense $164,500 53,800 1,400 10,500 4,100 1,055 70,855 93,645 Net operating income During May, the company's actual...
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) 200 Revenue ($420.00q) $ 84,000 Expenses: Wages and salaries ($11,900 + $130.00q) 37,900 Supplies ($5.00q) 1,000 Equipment rental ($2,300 + $26.00q) 7,500 Insurance ($4,100) 4,100 Miscellaneous ($530 + $1.46q) 822 Total expense 51,322 Net operating income...
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) 200 Revenue ($430.00q) $ 86,000 Expenses: Wages and salaries ($11,300 + $122.00q) 35,700 Supplies ($4.00q) 800 Equipment rental ($2,100 + $24.00q) 6,900 Insurance ($3,900) 3,900 Miscellaneous ($500 + $1.48q) 796 Total expense 48,096 Net operating income...
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...
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 (g) Revenue ($450.00g) Expenses: Wages and salaries ($11,100+ $126.00q) Supplies ($6.00q) Equipment rental ($2,300+ $20.00q) Insurance ($4,100) Miscellaneous ($500+ $1.48q) Total expense 200 $90,000 36,300 1,200 6,300 4,100 796 48,696 Net operating income $41,304 Required: During May,...