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) 250 $100,000 Revenue ($400.000) Expenses Wages and salaries ($11,700 + $128.009) Supplies ($4.009) Equipment rental ($2,300 + $25.00) Insurance ($4,000) Miscellaneous ($530 + $1.429) Tot expense Net operating income 43,700 1,000 8,550 4,000 885 58,135 $ 41,865 During May, the company's actual activity was 240 diving-hours. During May, the company's actual activity was 240 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