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) 350 Revenue ($390.00q) $ 136,500 Expenses: Wages and salaries ($11,000 + $128.00q) 55,800 Supplies ($5.00q) 1,750 Equipment rental ($2,300 + $21.00q) 9,650 Insurance ($3,800) 3,800 Miscellaneous ($540 + $1.46q) 1,051 Total expense 72,051 Net operating income $ 64,449

Required: During May, the companys activity was actually 340 diving-hours. Complete the following flexible budget for that level of activity.

revenue

Expenses

Wages and salaries

Supplies

Equipment rental

Insurance

Misc

Total expense

net operating income