96 Exercise 9-1 (Algo) Prepare a Flexible Budget (L09-11 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 et Sound overs Planning Budget for the Month Ended May 1 Budgeted diving hours (9) 250 Revenue (540.000 1 110.000 Expenses uages and salaris (511,000+ $122.00) 41.500 Supplies ($4.004) Equipment rental (52,500 525.000) 3.550 Insurance (54.000) 4.00 Miscellaneous (5520 + 51.440) Total expense Net operating income $ 54,00 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 dollar) Puget Sound Divers Flexible Budget For the Month Eoded May 1 Rew Expenses Wages and salaries Supplier Equitral Insurance Miscellaneous Total expense Net operating income 5