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Puget Sound Divers is a company that provides diving services such as underwater ship repairs to...

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 31Budgeted diving-hours (q) 350
Revenue ($440.00q)$154,000
Expenses:  Wages and salaries ($11,300 + $120.00q) 53,300
Supplies ($4.00q) 1,400
Equipment rental ($2,100 + $25.00q) 10,850
Insurance ($4,200) 4,200
Miscellaneous ($510 + $1.44q) 1,014
Total expense 70,764
Net operating income$83,236

 

Required:

During May, the company’s activity was actually 340 diving-hours. Complete the following flexible budget for that level of activity. (Round your final answer to nearest dollar amount.)

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