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 ($11,800 + $128.00q) 43,800
Supplies ($3.00q) 750
Equipment rental ($2,100 + $22.00q) 7,600
Insurance ($4,000) 4,000
Miscellaneous ($530 + $1.48q) 900
Total expense 57,050
Net operating income $ 52,950

Required:
During May, the company’s activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity. (Round your answers to nearest whole dollar.)

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

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