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Exercise 9-1 Prepare a Flexible Budget [LO9-1] Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in

Exercise 9-1 Prepare a Flexible Budget [LO9-1] Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys 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 ($11,300 + $122.00q) 54,000 Supplies ($4.00q) 1,400 Equipment rental ($2,300 + $21.00q) 9,650 Insurance ($3,900) 3,900 Miscellaneous ($520 + $1.50q) 1,045 Total expense 69,995 Net operating income $ 80,505 During May, the companys actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.)

Exercise 9-1 Prepare a Flexible Budget [LO9-1]

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys 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 ($11,300 + $122.00q) 54,000
Supplies ($4.00q) 1,400
Equipment rental ($2,300 + $21.00q) 9,650
Insurance ($3,900) 3,900
Miscellaneous ($520 + $1.50q) 1,045
Total expense 69,995
Net operating income $ 80,505

During May, the companys actual activity was 340 diving-hours.

Required:

Prepare a flexible budget for May. (Round your answers to the nearest whole number.)

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