1 Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1] 1 points eBook Hint Print References 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) Revenue ($420.009) Expenses: Wages and salaries ($11,900 + $124.009) Supplies ($5.009) Equipment rental ($2,100 + $21.009) Insurance ($4,200) Miscellaneous ($500 + $1.469) Total expense Net operating income 250 $ 105,000 42,900 1,250 7,350 4,200 865 56,565 $ 48,435 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income