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 (9) 200 Revenue ($480.00) $ 96,000 Expenses Wages and salaries ($11,300 + $124.00) 36,100 Supplies ($5.00g) 1.000 Equipment rental ($2,500 + $22.009) 6.900 Insurance ($4,100) 4,100 Miscellaneous ($530 + $1.469) 822 Total expense 48,922 Net operating income $ 47,078 During May, the company's actual activity was 190 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 Total expense Net operating income 48,922 $ 47,078 During May, the company's actual activity was 190 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 ces Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income 0 0