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 ($430.00q) | $ | 129,000 |
Expenses: | ||
Wages and salaries ($11,500 + $128.00q) | 49,900 | |
Supplies ($4.00q) | 1,200 | |
Equipment rental ($2,200 + $23.00q) | 9,100 | |
Insurance ($3,900) | 3,900 | |
Miscellaneous ($510 + $1.48q) | 954 | |
Total expense | 65,054 | |
Net operating income | $ | 63,946 |
During May, the company’s actual activity was 290 diving-hours.
Required:
Prepare a flexible budget for May. (Round your answers to the nearest whole number.)
WORKING COLUMNs |
Flexible Budget |
||||||
[C = Fixed + (Var x Actual units)] |
|||||||
Fixed part |
+( |
Variable part |
x |
Actual/Planned units |
) |
||
Driving Hours |
290 |
||||||
Revenues |
( |
$ 430.00 |
x |
290 |
) |
$124,700 |
|
Expenses: |
|||||||
Wages & Salaries |
$11,500 |
+( |
$ 128.00 |
x |
290 |
) |
$48,620 |
Supplies |
$0 |
+( |
$ 4.00 |
x |
290 |
) |
$1,160 |
Equipment rentals |
$2,200 |
+( |
$ 23.00 |
x |
290 |
) |
$8,870 |
Insurance |
$3,900 |
+( |
$ - |
x |
290 |
) |
$3,900 |
Miscellaneous |
$510 |
+( |
$ 1.48 |
x |
290 |
) |
$939 |
Total Expenses |
$18,110 |
+( |
$ 156.48 |
x |
290 |
) |
$63,489 |
Net Operating Income |
$61,211 |
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) 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 31 400 Budgeted diving-hours (q) Revenue ($460.00q) $184,000 Expenses: Wages and salaries ($11,300 + $126.00q) Supplies ($4.00q) Equipment rental ($2,200 $26.00q) Insurance ($3,800) Miscellaneous ($510 + $1.48q) Total expense 61,700 1,600 12,600 3,800 1,102 80,802 $103,198 Net operating income During...
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 ($470.00q) $ 141,000 Expenses: Wages and salaries ($12,000 + $128.00q) 50,400 Supplies ($4.00q) 1,200 Equipment rental ($2,100 + $22.00q) 8,700 Insurance ($3,900) 3,900 Miscellaneous ($520 + $1.50q) 970 Total expense 65,170 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) 250 Revenue ($400.08q) Expenses: Wages and salaries ($11,600 $126.00q) Supplies ($4.00q) Equipment rental ($2,400 +$21.00q) Insurance ($4, ee0) Miscellaneous ($530+ $1.48q) Total expense $100,000 43,100 1,000 7,650 4,000 900 56,650 $ 43,350 Net operating income During...
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) 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 31Budgeted diving-hours (q) 350 Revenue ($440.00q)$154,000 Expenses: Wages and salaries ($11,300 + $120.00q) 53,300 Supplies ($4.00q) 1,400 Equipment rental ($2,100 + $25.00q) 10,850 Insurance ($4,200) 4,200 Miscellaneous ($510 + $1.44q) 1,014 Total expense 70,764 Net operating income$83,236 Required: During May, the company’s activity was actually 340...
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 (a) 300 $ 114,000 Revenue ($380.009) Expenses: Wages and salaries ($11,200 + $122.009) Supplies ($6.009) Equipment rental ($2,400 + $21.009) Insurance ($3,900) Miscellaneous ($510 + $1.429) Total expense Net operating income 47,800 1,800 8,700 3,900 936 63,136...
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 (9) 300 $135,000 Revenue ($450.000) Expenses: Wages and salaries ($11,400 + $122.009) Supplies ($6.009) Equipment rental ($2,200 + $24.009) Insurance ($4,000) Miscellaneous ($510 + $1.429) Total expense Net operating income 48,000 1,800 9,400 4,000 936 64,136 $...