Question

McGraw-Hill Connect mework 0 Saved Puget Sound Divers is a company that provides diving services such as underwater ship rep The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 400 $176,000 Revenue ($440.00) Expenses: Wages and salaries ($11,100 + $120.00) Supplies ($6.009) Equipment rental ($2,200 + $22.ee) Insurance ($3,900) Miscellaneous ($530 + $1.449) Total expense Net operating income 59,100 2,400 11,000 3,900 1, 106 77,506 $ 98,494 During May, the company's actual activity was 390 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 Actual diving-hours 390 | Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ 0 Prev 1 of 6 HEN

Answer 1

I Puget Sound Divers flexible Budget for the Month Ended May 31 Actual 390 diving hours Insurance Revenue $171,600 Expenses: Wages and salaries $ 57,900 Supplies $ 2,340 Equipment mental $ 10, 780 $ 3,900 Ma cellaneous $ 1,092 Total expense $76,012 Net operating income $ 95,588 Calculation: Revenue = (440.00 X 390) = $191,600 wages and salaries = ($ 11,100 + ( 4 120 X 390)) = $57,900 supplies = ($64 390) = $2,340 Equipment rental = ($2,200 + ($22x390)) = $10,780 Miscellaneous = ($530 + (1.44 x 390) = $ 1092