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) 300 revenue ($410.00q) $ 123,000 expenses: wages and salaries ($11,800 + $124.00q) 49,000 supplies ($4.00q) 1,200 equipment rental ($2,400 + $20.00q) 8,400 insurance ($4,100) 4,100 miscellaneous ($510 + $1.42q) 936 total expense 63,636 net operating income $ 59,364 during may, the company’s actual activity was 290 diving-hours. required: prepare a flexible budget for may. (round your answers to the nearest whole number.)

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

Computing equivalent units is especially important for: (a) goods that take a relatively short time to produce, such as plastic bottles. (b) goods with sustainability implications in their production processes. (c) goods that are started and completed during the same period. (d) goods that take a long time to produce, such as airplanes.

Goldman services hired a new clerk to keep custody of and maintain all the equipment in the equipment yard. the clerk has not yet been adequately trained on the maintenance needs of the equipment. which internal control procedure needs strengthening?