Gator Divers is a company that provides diving services such as underwater ship repairs to clients in the Tampa Bay area. The company’s planning budget for March appears below:
Gator Divers Planning Budget For the Month Ended March 31 | |
Budgeted diving-hours (q) | 200 |
Revenue ($380.00q) | $ 76,000 |
Expenses: | |
Wages and salaries( $ 12,000 + $ 130.00 q). | 38,000 |
Supplies ($ 5,00 q) | 1,00 |
Equipment rental ($ 2,500 + $ 26.00q) | 7,700 |
Insurance ( $ 4,200) | 4,200 |
Miscellaneous ($ 540 + $1.50q) | 840 |
Total expense | 51,740 |
Net operating income | $ 24,260 |
Required:
During March, the company’s activity was actually 190 diving-hours. Prepare a flexible budget for that level of activity.
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