Exercise 9-1 (Algo) 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) Revenue ($390.00g) Expenses: Wages and salaries ($11,600 +$126.00g) Supplies ($6.00g) Equipment rental ($2,100 +$22.00g) Insurance (54,100) Miscellaneous (5530 +$1.46g) Total expense Net operating income 350 $136,500 55,700 2,100 9,800 4,100 1,041 72,741 $ 63,759 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Insurance ($4,100) Miscellaneous ($530 +$1.46g) Total expense Net operating income 4,100 1,041 72,741 $ 63,759 During May, the company's actual activity was 340 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 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income)