Managerial Accounting ACCT640

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Description

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) 100
Revenue ($365.00q) $ 36,500
Expenses:
Wages and salaries ($8,000 + $125.00q) 20,500
Supplies ($3.00q) 300
Equipment rental ($1,800 + $32.00q) 5,000
Insurance ($3,400) 3,400
Miscellaneous ($630 + $1.80q) 810
Total expense 30,010
Net operating income $ 6,490

 

During May, the company’s actual activity was 105 diving-hours.

 

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