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 ($470.00q)	$	117,500
Expenses:
Wages and salaries ($11,800 + $122.00q)		42,300
Supplies ($3.00q)		750
Equipment rental ($2,000 + $22.00q)		7,500
Insurance ($4,100)		4,100
Miscellaneous ($500 + $1.48q)		870
Total expense		55,520
Net operating income	$	61,980

Required:

During May, the companys activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity