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Complete the flexible budget for that level of activity

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Question - 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) - 250

Revenue ($440.00q) - $ 110,000

Expenses:

Wages and salaries ($11,500 + $120.00q) - 41,500

Supplies ($6.00q) - 1,500

Equipment rental ($2,300 + $21 .00q) - 7,550

Insurance ($4,000) - 4,000

Miscellaneous ($550 + $1 .48q) - 920

Total expense - 55,470

Net operating income - $ 54,530

Required: During May, the company's activity was actually 240 diving-hours. Complete the flexible budget for that level of activity.

Reference no: EM131640712

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