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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 ($450q) | $ | 157,500 |
Expenses: | ||
Wages and salaries ($11,500 + $124q) | 54,900 | |
Supplies ($3q) | 1,050 | |
Equipment rental ($2,300 + $24q) | 10,700 | |
Insurance ($4,100) | 4,100 | |
Miscellaneous ($500 + $1.42q) | 997 | |
Total expense | 71,747 | |
Net operating income | $ | 85,753 |
Required: |
During March, the companys activity was actually 340 diving-hours. Prepare a flexible budget for that level of activity. (Input all amounts as positive values. Round your answers to the nearest dollar amount.) |
Gator Divers Flexible Budget For the Month Ended March 31 | |
Revenue | $ |
Expenses: | |
Wages and salaries | |
Supplies | |
Equipment rental | |
Insurance | |
Miscellaneous | |
Total expense | |
Net operating income | $ |
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