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 ($11,800 + $122.00q) | 48,400 | |
Supplies ($5.00q) | 1,500 | |
Equipment rental ($2,300 + $21.00q) | 8,600 | |
Insurance ($4,000) | 4,000 | |
Miscellaneous ($520 + $1.46q) | 958 | |
Total expense | 63,458 | |
Net operating income | $ | 77,542 |
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.)
Puget Sound Divers | |
Flexible Budget | |
For the Month Ended May 31 | |
Revenue | |
Expenses: | |
Wages and salaries | |
Supplies | |
Equipment rental | |
Insurance | |
Miscellaneous | |
Total expense | |
Net operating income |
Puget Sound Drivers | |
Flexible Budget | |
For the month ended May 31 | |
290 hours | |
Revenue($470*290) | $1,36,300 |
Expenses: | |
Wages & Salaries($11,800+ $122*290) | $47,180 |
Supplies($5*290) | $1,450 |
Equipment Rental($2,300+ $21*290) | $8,390 |
Insurance | $4,000 |
Miscellaneous($520+ $1.46*290) | $943 |
Total Expenses | $61,963 |
Net Operating Income | $74,337 |
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 ($410.00q) $ 82,000 Expenses: Wages and salaries ($11,900 + $120.00q) 35,900 Supplies ($3.00q) 600 Equipment rental ($2,000 + $21.00q) 6,200 Insurance ($3,800) 3,800 Miscellaneous ($510 + $1.46q) 802 Total expense 47,302 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 ($11,700 + $128.00q) 56,500 Supplies ($5.00q) 1,750 Equipment rental ($2,400 + $24.00q) 10,800 Insurance ($3,800) 3,800 Miscellaneous ($510 + $1.46q) 1,021 Total expense 73,871 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 ($390.00q) $ 136,500 Expenses: Wages and salaries ($11,600 + $126.00q) 55,700 Supplies ($5.00q) 1,750 Equipment rental ($2,000 + $23.00q) 10,050 Insurance ($4,200) 4,200 Miscellaneous ($520 + $1.46q) 1,031 Total expense 72,731 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 ($480.00g) $144,000 Expenses: Wages and salaries ($11,300 + $122.00q) Supplies ($6.00g) Equipment rental ($2,500 + $26.00g) Insurance ($3,900) Miscellaneous ($500 + $1.46q) Total expense 47,900 1,800 10,300 3,900 938 64,838 $ 79,162 Net operating...
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 ($460.00q) $115,000 Expenses: Wages and salaries ($11,800 $120.00g) Supplies ($5.00q) Equipment rental ($2,100 $21.00g) Insurance ($3,900) Miscellaneous ($540 + $1.46q) Total expense 41,800 1,250 7,350 3,900 905 55,205 59,795 Net operating income During May,...
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 ($420.00q) $ 84,000 Expenses: Wages and salaries ($11,900 + $130.00q) 37,900 Supplies ($5.00q) 1,000 Equipment rental ($2,300 + $26.00q) 7,500 Insurance ($4,100) 4,100 Miscellaneous ($530 + $1.46q) 822 Total expense 51,322 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 ($430.00q) $ 150,500 Expenses: Wages and salaries ($11,400 + $130.00q) 56,900 Supplies ($5.00q) 1,750 Equipment rental ($2,300 + $21.00q) 9,650 Insurance ($3,800) 3,800 Miscellaneous ($520 + $1.48q) 1,038 Total expense 73,138 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 ($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) 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 31 Budgeted diving-hours (q) 200 Revenue ($410.00q) Expenses: 82,000 Wages and salaries ($11,100 + $122.00q) Supplies ($6.00q) Equipment rental ($2,000 $20.00q) Insurance ($4,000) Miscellaneous ($510 + $1.48q) 35,500 1,200 6,000 4,000 806 47,506 $ 34,494 Total expense Net operating income...