1 The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 400 10 points $168,000 Skipped Revenue ($420.009) Expenses : Wages and salaries ($11,200 + $124.009) Supplies ($5.009) Equipment rental ($2,200 + $23.009) Insurance ($4,000) Miscellaneous ($510 + $1.449) Total expense Net operating income 60,800 2,000 11,400 4,000 1,086 79,286 $ 88,714 eBook Hint During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Print References 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