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Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company s planning budget for May appears below: Puget Sound

Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The companys planning budget for May appears below:
Puget Sound Divers
Planning Budget
For the Month Ended May 31
Budgeted diving-hours (q)250
Revenue ($470.00q) $ 117,500
Expenses:
Wages and salaries ($11,000+ $126.00q)42,500
Supplies ($4.00q)1,000
Equipment rental ($2,400+ $26.00q)8,900
Insurance ($4,100)4,100
Miscellaneous ($500+ $1.48q)870
Total expenses 57,370
Net operating income $ 60,130
During May, the companys actual activity was 240 diving-hours.
Required:
Prepare a flexible budget for May.

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