Kirkeby Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Container Refurbished Revenue $4,700 Employee salaries and wages $44,200 $1,300 Refurbishing materials $ 700 Other expenses $30,200 When the company prepared its planning budget at the beginning of May, it assumed that 32 containers would have been refurbished. However, 34 containers were actually refurbished during May. The "Refurbishing materials" in the flexible budget for May would have been closest to: rev: 06_29_2020_QC_CS-208650 Multiple Choice $24,100 $23,800 $22,400 $22,682