Exercise 9-1 Prepare a Flexible Budget [LO9-1]
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 ($380.00q) | $ | 133,000 |
Expenses: | ||
Wages and salaries ($11,200 + $124.00q) | 54,600 | |
Supplies ($4.00q) | 1,400 | |
Equipment rental ($2,200 + $25.00q) | 10,950 | |
Insurance ($4,100) | 4,100 | |
Miscellaneous ($530 + $1.44q) | 1,034 | |
Total expense | 72,084 | |
Net operating income | $ | 60,916 |
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.)
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Exercise 9-1 Prepare a Flexible Budget [LO9-1] Puget Sound Divers is a company that provides diving...
Exercise 9-1 Prepare a Flexible Budget [LO9-1] 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) 250 $102,500 Revenue $410.00g) Expenses: Wages and salaries ($11,300 $124.00g) Supplies $5.00g) Equipment rental ($2,000 + $22.00g) Insurance ($3,900) Miscellaneous ($510 $1.44q) Total expense 42,300 1,250 7,500 3,900 870...
Exercise 9-1 Prepare a Flexible Budget (LO9-1] 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 ($448.689) Expenses: Wages and salaries ($11,380 + $122.a) Supplies ($5.089) Equipment rental ($2,199 + $20.889) Insurance ($4, ese) Miscellaneous ($548 + $1.449) Total expense Net operating...
Exercise 9-1 Prepare a Flexible Budget [LO9-1] 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) 350 $143.5ee Revenue ($410.ee) Expenses: Wages and salaries ($11,200 + $126.689) Supplies ($4.wag) Equipment rental ($2,499 + $21.889) Insurance ($3,8ee) Miscellaneous ($520 + $1.489) Total expense Net operating income...
Exercise 9-1 Prepare a Flexible Budget (LO9-1) 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 $110,000 Revenue ($ 440.000) Expenses Wages and salaries ($11,300 + $120.00) Supplies ($4.000) Equipment rental ($2,400 - $20.000) Insurance (54,000) Miscellaneous ($550 + $1.489) Total expense Net operating...
Exercise 9-1 Prepare a Flexible Budget (LO9-1) 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 $110,000 Revenue ($ 440.000) Expenses Wages and salaries ($11,300 + $120.00) Supplies ($4.000) Equipment rental ($2,400 - $20.000) Insurance (54,000) Miscellaneous ($550 + $1.489) Total expense Net operating...
Exercise 9-1 (Algo) Prepare a Flexible Budget (LO9-1] 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) 4ee $180, eee Revenue ($450.089) Expenses: Wages and salaries ($11, eee + $126.089) Supplies ($4.289) Equipment rental ($2,400 + $25.00) Insurance ($3,880) Miscellaneous ($528 + $1.449) Total expense...
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 ($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) 250 Revenue ($430.00q) $ 107,500 Expenses: Wages and salaries ($11,600 + $124.00q) 42,600 Supplies ($4.00q) 1,000 Equipment rental ($2,300 + $25.00q) 8,550 Insurance ($4,000) 4,000 Miscellaneous ($510 + $1.42q) 865 Total expense 57,015 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 ($11,000 + $120.00q) 53,000 Supplies ($3.00q) 1,050 Equipment rental ($2,300 + $21.00q) 9,650 Insurance ($4,100) 4,100 Miscellaneous ($520 + $1.44q) 1,024 Total expense 68,824 Net operating income...