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Puget Sound Divers is a company that provides diving services such as underwater ship repairs to...

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

Puget Sound Divers
Planning Budget
For the Month Ended May 31
Budgeted diving-hours (q) 350
Revenue ($400.00q) $ 140,000
Expenses:
Wages and salaries ($11,700 + $124.00q) 55,100
Supplies ($5.00q) 1,750
Equipment rental ($2,100 + $24.00q) 10,500
Insurance ($3,800) 3,800
Miscellaneous ($540 + $1.48q) 1,058
Total expense 72,208
Net operating income $ 67,792

During May, the company’s actual activity was 340 diving-hours.

Required:

Prepare a flexible budget for May. (Round your answers to the nearest whole number.)

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