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 (9) 250 $ 110,000 Revenue ($440.009) Expenses: Wages and salaries ($11,500 + $122.009) Supplies ($4.009) Equipment rental ($2,100 + $25.009) Insurance ($3,800) Miscellaneous ($510 + $1.429) Total expense Net operating income 42,000 1,000 8,350 3,800 865 56,015 $ 53,985 During May, the company's actual activity was 240 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 Revenue Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous

Answer 1

Actual diving hours	240
Revenue	105,600
Expenses
Wages	40,780
Supplies	960
Equipment	8,100
Insurance	3,800
Miscellaneous	851
Total expense	54,491
Net income	51,109