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Prepare a flexible budget for may

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Reference no: EM131716399

Question - 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)

400

Revenue ($450 . 00q)

$180,000

Expenses:

 

Wages and salaries ($11,800 + $126.00q)

62,200

Supplies ($3.00q)

1,200

Equipment rental ($2,500 + $23.00q)

11,700

Insurance ($4,000)

4,000

Miscellaneous ($540 + $1.48q)

1,132

Total expense

80,232

Net operating income

$99,768

During May, the company's actual activity was 390 diving-hours.

Required: Prepare a flexible budget for May.

Reference no: EM131716399

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