connect EXERCISE 9-1 Prepare a Flexible Budget LO9-1 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 Budgeted diving-hours (q) 100 $36,500 Expenses Wages and salaries ($8,000+$125.00q)... Supplies ($3.00q) Equipment rental ($1,800+$32.00q) .. Insurance ($3,400) Miscellaneous ($630+$1.80q) . 300 5,000 3,400 810 Net operating income .. 6.490 During May, the company's actual activity was 105 diving-hours Required Using Exhibit 9-5 as your guide, prepare a flexible budget for May