Puget Sound Divers is a company that provides diving services such as underwater ship repairs to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($420.009) Expenses: Wages and salaries ($11,500 + $122.009) Supplies ($5.00) Equipment rental ($2,400 + $25.00q) Insurance ($4,200) Miscellaneous ($540 + $1.42q) Total expense Net operating income 200 $ 84,000 35,900 1,000 7,400 4,200 824 49,324 $ 34,676 During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ E L 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: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($420.009) Expenses: Wages and salaries ($11,500 + $122.009) Supplies ($5.00) Equipment rental ($2,400 + $25.00q) Insurance ($4,200) Miscellaneous ($540 + $1.42q) Total expense Net operating income 200 $ 84,000 35,900 1,000 7,400 4,200 824 49,324 $ 34,676 During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ E L
Expert Answer:
Answer rating: 100% (QA)
To prepare a flexible budget for May we need to adjust the budgeted amounts based on the a... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
The first Budget in the Master Budget is the "Sales Budget". The Sales Budget comes from the sales forecast. It represents managements best estimate of sales revenue for the period. It also details...
-
2. Given that z_{1} = 1 + i and z_{2} = 3i - 2 find z such that 1/z = 1/z_{1} + 1/z_{2} Give your answer in the form of x + yi where x and y are constants.
-
Per the Fraud Examiners Manual, what are the four most common types of expense reimbursement schemes? A. Confounded expenses, exaggerated expenses, fabricated expenses, and compound reimbursements....
-
In a small country near the Baltic Sea, there are only three commodities: potatoes, meatballs, and jam. Prices have been remarkably stable for the last 50 years or so. Potatoes cost 2 crowns per sack...
-
Describe the functionality required of mobile DBMS.
-
Consider the data set (a) Find the range. (b) Use the defining formula to compute the sample standard deviation s. (c) Use the defining formula to compute the population standard deviation Ï. 1...
-
Discuss the usefulness of the SEC requirement in the United States to provide a management discussion and analysis of the financial statements.
-
Werner Pharmacy, part of a large chain of pharmacies, fills a variety of prescriptions for customers. The complexity of prescriptions filled by Werner varies widely; pharmacists can spend between...
-
Use the angle conversion capabilities of a graphing utility to convert the angle measure to DM'S" form. -113.5
-
Bruin Corporation has been authorized to issue 5,000 shares of 12 percent noncumulative, nonparticipating preferred stock with a par value of $100 per share and 200,000 shares of common stock with a...
-
*The following are financial statements of Sunland company.* _ Net Sales : $ 2,238,00 _ Cost of good sold : $1,014,00 _ Seilling and administrative expenses : $ 908,000 _ interest expense : $80,000 _...
-
Assume that you are the portfolio manager of the TTY Fund, a $5 million hedge fund that contains the following stocks. The required rate of return on the market is 12.00% and the risk-free rate is...
-
Mary Rose is an experienced court reporter for the Daily News , a national newspaper. She attends the hearing of a sexual assault charge in the County Court in Melbourne. On the first day of the...
-
A machine costing $206,800 with a four-year life and an estimated $16,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce...
-
A rumor is spread in a school. For 0 < a < 1 and b > 0, the time t at which a fraction p of the school population has heard the rumor is given by t(p) = [ " b dx. x(1 - x) dz (a) Evaluate the...
-
3) Convert the following numbers from unsigned base 16 to unsigned base 2 using 1-byte. A) D4 B) 05 C) 65 D) FF
-
Review the article " Cannabis Transportation Has Surprising Requirements for 3PLS " and answer the following questions (Make sure you provide details and supporting evidence from your reading and...
-
1. What is the semi-annually compounded interest rate if $200 accumulates to $318.77 in eight years? Answer in percentage with two decimal places. 2. What is the quarterly compounded interest rate if...
-
Of the following four transactions, which carries the most risk: purchase of a call option; sale of a call option; purchase of a put option; sale of a put option; Why?
-
If you hold stock options on the shares in your company, would you be pleased to see the company paying out large dividends? Why?
-
Why are options particularly well suited to arbitrage strategies? And speculation?
Study smarter with the SolutionInn App