3 Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1] 2 points 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 eBook Hint Print References Budgeted diving-hours (g) Revenue ($480.00g) Expenses: Wages and salaries ($11,700 + $122.00g) Supplies ($4.00g) Equipment rental ($2,200 + $21.00g) Insurance ($4,100) Miscellaneous ($510+ $1.44g) Total expense Net operating income 250 $ 120,000 42,200 1,000 7,450 4,100 870 55,620 $ 64,380 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.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Budgeted diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance 240 Miscellaneous Total expense 0 Net operating income $ 0