1 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: 3.33 points Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 200 $ 88,000 eBook Revenue ($440.009) Expenses : Wages and salaries ($11,400 + $128.00) Supplies ($5.00) Equipment rental ($2,100 + $22.009) Insurance ($4,000) Miscellaneous ($530 + $1.42) Total expense Net operating income Hint 37,000 1,000 6,500 4,000 814 49,314 $ 38,686 Print During May, the company's actual activity was 190 diving-hours. References 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 Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 0 Net operating income $