400 $ 160,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($400.009) Expenses: Wages and salaries ($11,700 + $126.009) Supplies ($4.00g) Equipment rental ($2,100 + $25.009). Insurance ($3,900) Miscellaneous ($520 + $1.509) Total expense Net operating income 62,100 1,600 12,100 3,900 1,120 80, 820 $ 79,180 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 dollar.) 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