Puget Sound Divers is a company thatprovides diving services such asunderwater ship repairs to clients in thePuget Sound area. The company's planningbudget for May appears below:Puget Sound DiversPlanning BudgetFor the Month Ended May 31Budgeted diving-hours (q)300Revenue ($400.00g)$ 120,000Expenses:Wages and salaries ($11,800 + $126.00q)49,600Supplies ($5.00q)1,500Equipment rental ($2,200 + $21.00g)8,500Insurance ($3,800)3,800Miscellaneous ($540 + $1.46q)978Total expense64,378Net operating income$ 55,622During May, the company's actual activitywas 290 diving-hours.Required:Prepare a flexible budget for May. (Roundyour answers to the nearest whole dollar.)

Solution... Flexible Budget for May

Answered: Puget Sound Divers is a company that…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Budgeted diving-hours (q) Revenue ($390.00q) Puget Sound Divers Planning Budget For the Month Ended May 31 Expenses: Wages and salaries ($12,000+ $130.00g) Revenue Expenses: Supplies ($4.00q) Equipment rental ($2,200 + $25.00g) Insurance ($4,000) Miscellaneous ($520+ $1.48q) Total expenses Net operating income During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Miscellaneous Total expenses Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental Insurance 350 $ 136,500 57,500 1,400 10,950 4,000 1,038 74,888 $ 61,612
Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($460.00q) Expenses: Wages and salaries ($11,200 +$126.00q) Supplies ($5.00q) Equipment rental ($2,400 + $20.00q) Insurance ($4,000) Miscellaneous ($540 + $1.50q) Total expenses Net operating income. 250 $ 115,000 42,700 1,250 7,400 4,000 915 56,265 $ 58,735 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number.
Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (g) Revenue (1440.000) Expenses: Wages and salaries ($11,300 $130.00g) Supplies ($5.00g) Revenue Expenses Equipment rental ($2,500+ $25.00g) Insurance (14,000) Miscellaneous ($510 $1.500) Total expenses Net operating income During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental insurance Total expenses Net operating income 200 $ 88,000 0 37,300 1,000 7,500 4,000 810 50,610 $ 37,390
Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (a) Revenue ($450.00g) Expenses: Wages and salaries (511,500+ $122.00g) Supplies ($6.00g) Equipment rental ($2,100 $21.000) Insurance ($4,200) Miscellaneous (5500 $1.48g) Total expenses Net operating income Revenue Expenses: Puget Sound Divers Flexible Budget For the Month Ended May 31 300 $ 135,000 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May Note: Round your answers to the nearest whole number. Wages and salaries Supplies Equipment rental 48,100 1,800 5,400 4,200 944 63,444 $ 71,556
Puget Sound Divers pravides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($450.009) Expenses: Wages and salaries ($11,200 + $124.009) Supplies ($4.009) Equipment rental ($2,300 + $25.00q) Insurance ($4,100) Miscellaneous ($510 +$1.44q) Total expenses Net operating income 400 $ 180,000 60,800 1,600 12,300 4,100 1,086 79,886 $ 100,114 During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: 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 expenses 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) Revenue ($365.00q) Expenses: Wages and salaries ($8,000 + $125.00q) Supplies ($3.00q) Equipment rental ($1,800 + $32.00g) Insurance ($3,400) Miscellaneous ($630+ $1.80q) Total expense Net operating income Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. 100 $ 36,500 Wages and salaries Supplies Equipment rental Insurance Miscellaneous 20,500 300 5,000 3,400 810 30,010 $ 6,490
Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Budgeted diving-hours (9) Revenue ($460.009) Puget Sound Divers Planning Budget For the Month Ended May 31 Revenue Expenses: Expenses: Wages and salaries ($11,100+ $124.009) Supplies ($4.009) Equipment rental ($2,000+ $21.009) Insurance ($4,100) Miscellaneous ($540+ $1.469) Total expenses Net operating income During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental Insurance Miscellaneous 350 $ 161,000 54,500 1,400 9,350 4,100 1,051 70,401 $ 90,599
Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($480.009) Expenses: Wages and salaries ($11,500 + $122.009) Supplies ($5.009) Equipment rental ($2,400 + $22.009) Insurance ($4,100) Miscellaneous ($520 + $1.469) Total expenses Net operating income 300 $ 144,000 48,100 1,500 9,000 4,100 958 63,658 $ 80,342 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. Note: 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 expenses 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 DiversPlanning BudgetFor the Month Ended May 31 Budgeted diving-hours (q) 250 Revenue ($470.00q) $ 117,500 Expenses: Wages and salaries ($11,200 + $124.00q) 42,200 Supplies ($5.00q) 1,250 Equipment rental ($2,400 + $24.00q) 8,400 Insurance ($4,100) 4,100 Miscellaneous ($510 + $1.48q) 880 Total expense 56,830 Net operating income $ 60,670 During May, the company’s actual activity was 240 diving-hours. Required: Prepare a flexible budget for 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) Revenue ($430.00q) Expenses: Wages and salaries ($11,300 + $122.00g) Supplies ($5.00g) Equipment rental ($2,100 + $25.00q) Insurance ( $3,900) Miscellaneous ($520 + $1.46q) Total expense 200 $ 86,000 35,700 1,000 7,100 3,900 812 48,512 $ 37,488 Net operating income During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) 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
es 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) Revenue ($400.00g) Expenses: Wages and salaries ($11,100+ $124.00q) Supplies ($4.00q) Equipment rental ($2,400 + $23.00q) Insurance ($4,000) Miscellaneous ($520+ $1.50q) Total expense Net operating income During May, the company's actual activity was 340 diving-hours. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: 350 $ 140,000 Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Wages and salaries 54,500 1,400 10,450 4,000 1,045 Supplies Equipment rental Insurance Miscellaneous 71,395 $ 68,605 Help Save & Exit Submit Check my work
n 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) Revenue ($440.00g) Expenses: Wages and salaries ($11,600+ $124.00g) Supplies ($4.00g) Equipment rental ($2,200 $24,00g) Insurance ($4,100) Miscellaneous ($520 $1.469) Total expense Net operating income 350 $154,000 55,000 1,400 10,600 4,100 1,031 72,131 $ 81,869 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.) Puget Sound Divers

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