10 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) 200 points eBook Hint Ask Print Revenue ($390.009) Expenses: Wages and salaries ($11,400 + $120.009) Supplies ($5.009) Equipment rental ($2,500+ $23.009) Insurance ($4,200) Miscellaneous ($530 +$1.50q) Total expense Net operating income $ 78,000 35,400 1,000 7,100 4,200 830 48,530 $ 29,470 During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 References Actual diving-hours Revenue Expenses: Wages and salaries. Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income