Answered step by step
Verified Expert Solution
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started