Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gator Divers is a company that provides diving services such as underwater ship repairs to clients in the Tampa Bay area. The companys planning budget

Gator Divers is a company that provides diving services such as underwater ship repairs to clients in the Tampa Bay area. The companys planning budget for March appears below:

Gator Divers Planning Budget For the Month Ended March 31
Budgeted diving-hours (q) 350
Revenue ($440.00q) $ 154,000
Expenses:
Wages and salaries ($11,500 + $126.00q) 55,600
Supplies ($3.00q) 1,050
Equipment rental ($2,300 + $25.00q) 11,050
Insurance ($4,200) 4,200
Miscellaneous ($530 + $1.48q) 1,048
Total expense 72,948
Net operating income $ 81,052

Required:

During March, the companys activity was actually 340 diving-hours. Complete the flexible budget for that level of activity.(Round your answers to nearest whole dollar.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: W Steve Albrecht, Earl K Stice

11th Edition

0538746955, 9780538746953

More Books

Students also viewed these Accounting questions

Question

A 300N F 30% d 2 m Answered: 1 week ago

Answered: 1 week ago

Question

Values: What is important to me?

Answered: 1 week ago

Question

Purpose: What do we seek to achieve with our behaviour?

Answered: 1 week ago