Exercise 8-1 Prepare a Flexible Budget [LO8-1]

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for May appears below:

Puget Sound Divers Planning Budget For the Month Ended May 31
Budgeted diving-hours (q)		250
Revenue ($430.00q)	$	107,500
Expenses:
Wages and salaries ($11,300 + $128.00q)		43,300
Supplies ($5.00q)		1,250
Equipment rental ($2,500 + $22.00q)		8,000
Insurance ($4,000)		4,000
Miscellaneous ($550 + $1.48q)		920
Total expense		57,470
Net operating income	$	50,030

Required:

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