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:

Required:

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

Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($390.00q) Expenses: 350 $136,500 Wages and salaries ($11,900 $126.00q) Supplies ($4.00q) Equipment rental ($2,100 $25.00q) Insurance ($4,200) Miscellaneous ($540+ $1.46q) 56,000 1,400 10,850 4,200 1,051 73,501 Total expense Net operating income 62,999