Exercise 8-1 Prepare a Flexible Budget [LO8-1] Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 300 Revenue ($450.00q) $ 135,000 Expenses: Wages and salaries ($11,700 + $126.00q) 49,500 Supplies ($4.00q) 1,200 Equipment rental ($2,200 + $25.00q) 9,700 Insurance ($3,800) 3,800 Miscellaneous ($540 + $1.44q) 972 Total expense 65,172 Net operating income $ 69,828 Required: During May, the companys activity was actually 290 diving-hours. Complete the following flexible budget for that level of activity. (Round your answers to nearest whole dollar.)