Puget Sound Divers is a company that provides diving services such as underwater ship repairs to...

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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: Budgeted diving-hours (9) Revenue ($420.009) Expenses: Wages and salaries ($11,200 + $120.009) Supplies ($5.009) Equipment rental ($2,200 + $23.009) Insurance ($3,900) Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Miscellaneous ($540 + $1.509) Total expense Net operating income 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.) Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income 300 $ 126,000 47,200 1,500 9,100 3,900 990 62,690 $ 63,310 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: Budgeted diving-hours (9) Revenue ($420.009) Expenses: Wages and salaries ($11,200 + $120.009) Supplies ($5.009) Equipment rental ($2,200 + $23.009) Insurance ($3,900) Puget Sound Divers Planning Budget For the Month Ended May 31 Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Miscellaneous ($540 + $1.509) Total expense Net operating income 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.) Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income 300 $ 126,000 47,200 1,500 9,100 3,900 990 62,690 $ 63,310

Answer rating: 100% (QA)

Budget is an important activity initiated by the finance section of any organization Its formalization of goals and targets of the company into achiev... View the full answer