Answer Happy

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 (4) 350 Revenue ($400.00 g) $ 140,000 Expenses: 54, 200 Wages and salaries ($11,500 + $122.00 g) Supplies ($4.00g) 1, 400 Equipment rental ($2,500 + $21.00g) 9,850 Insurance ($3,900) 3,900 Miscellaneous ($500+ $1.50g) 1,025 Total expense 70, 375 Net operating income $ 69, 625 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours 340 Revenue Expenses: 0 Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ 0