During December, Hynes Corporation plans to serve 35,000 customers. Revenue is $2.00 per customer served. Wages and salaries are $24,600 per month plus $0.50 per customer served. Supplies are $0.30 per customer served. Insurance is $5,400 per month. Miscellaneous expenses are $4,100 per month plus $0.10 per customer served.Required:Prepare the company's planning budget for December.
What will be an ideal response?
| Hynes Corporation | ||
| Planning Budget | ||
| For the Month Ended December 31 | ||
| Budgeted customers served (q) | 35,000 | |
| Revenue ($2.00q) | $ | 70,000 |
| Expenses: | ||
| Wages and salaries ($24,600 + $0.50q) | 42,100 | |
| Supplies ($0.30q) | 10,500 | |
| Insurance ($5,400) | 5,400 | |
| Miscellaneous expense ($4,100 + $0.10q) | 7,600 | |
| Total expense | 65,600 | |
| Net operating income | $ | 4,400 |
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