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 (g) 350 150,500 Revenue ($430.000) $ Expenses: Wages and salaries ($11,700 +$124.009) Supplies ($4.00) Equipment rental ($2,400 + $22.00) Insurance ($4,100) Miscellaneous ($540 + $1.469) Total expense Net operating income $ 55,100 1,400 10,100 4,100 1,051 71,751 78,749 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 number.)

correct answers only please!

Answer 1

Puget Sound Divers Flexible Budget For the Month ended May 31 Actual Diving Hours (9) 340 146200 Revenue ($430.009) Expenses: Wages and Salaries ($11,700 + $124.00) Supplies ($4.000) Equipment Rental ($2,400 + $22.00) Insurance ($4,100) Miscellaneous ($540 + $1.469) Total Expense Net Operating Income 53860 1360 9880 4100 1036 70236 75964

1 Puget Sound Divers 2 340 =430*B5 3 Flexible Budget 4 For the Month ended May 31 5 Actual Diving Hours (9) 6 7 Revenue ($430.000) 8 Expenses: 9 Wages and Salaries ($11,700 +$124.009) 10 Supplies ($4.00q) 11 Equipment Rental ($2,400 + $22.00) 12 Insurance ($4,100) 13 Miscellaneous ($540 + $1.469) 14 Total Expense 15 Net Operating Income =11700+(124*B5) -4*B5 = 2400 + ( 22*B5) 4100 =540+(1.46*B5) =SUM(B9:B13) =B7-B14