1 answer

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to...

Question:


Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound a
Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses: Wages and salaries Suppli
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 (9) 250 $112,500 Revenue ($ 450.009) Expenses: Wages and salaries ($11,600 + $124.00g) Supplies ($4.009) Equipment rental ($2,500 + $ 24.000) Insurance ($3,900) Miscellaneous ($520 + $1.429) Total expense Net operating income 42,600 1.000 8.500 3,900 875 $ 55,625 During May, the company's actual activity was 240 diving-hours.
Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income

Answers

Puget Sound Divers
Flexible Budget
For the Month ended May 31
Actual diving -hours 240
Revenue 108000
Expenses:
   Wages and salaries 41360
   Supplies 960
Equipment Rental 8260
Insurance 3900
Miscellaneous 860.8
Total expenses 55340.8
Net operating Income 52659.2

Revenue is computed as 240 hours * 450 per hour

Wages = 11600 + 124 * 240 = 41360

Supplies = 4 * 240 = 960

Insurance is taken as fixed = 3900 ( same amount as at 250 hours )

Miscellaneous = 520+1.42 * 240 = 860.80

Net Income = Sales revenue - Total expenses.

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