2 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 31 350 Budgeted diving-hours (g) $136,500 Revenue ($390.00g) Expenses: Wages and salaries ($11,300 $122.00g) Supplies ($4.00g) Equipment rental ($2,200 $25.00g) Insurance ($3,900) Miscellaneous ($510 + $1.46g) Total expense 54,000 1,400 10,950 3,900 1,021 71,271 65,229 Net operating income During May, the company's actual activity was 340 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 Actual diving-hours 340 $ 136,500 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 $ 136,500 Net operating income