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) 250 Revenue ($410.009) Expenses: Wages and salaries ($11,800 + $130.009) Supplies ($5.009) Equipment rental ($2,400 + $21.009) Insurance ($4,000) Miscellaneous ($520 +$1.44q) Total expense Net operating income $ 102,500 44,300 1,250 7,650 4,000 880 58,080 $ 44,420 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.) Revenue Puget Sound Divers Flexible Budget For the Month Ended May 31 Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0