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: 350 $ 164,500 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($470.009) Expenses: Wages and salaries ($11,400 + $120.00) Supplies ($6.009) Equipment rental ($2,100 + $24.009) Insurance ($4,100) Miscellaneous ($530 + $1.429) Total expense Net operating income 53,400 2,100 10,500 4,100 1,027 71, 127 $ 93,373 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.)