3. Brookings Corporation is an oil well service company that measures its o number of wells serviced. The company has provided the following fixed and v cost estimates that it uses for budgeting purposes. utput by the ariable Fixed Element per Month Variable Element per Well Serviced $4,500 $1,000 Revenue Employee salaries and wages Servicing materials Other expenses $48,100 $600 $38,700 When the company prepared its planning budget at the beginning of August, it assumed that 34 wells would have been serviced. Required ling budget fer ugust P