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) 400 $ 172,000 61,000 Revenue ($430.009) Expenses: Wages and salaries ($11,400 + $124.009) Supplies ($6.009) Equipment rental ($2,200 + $22.009) Insurance ($4,100) Miscellaneous ($530 + $1.489) Total expense Net operating income 2,400 11,000 4,100 1,122 79,622 $ 92,378 During May, the company's actual activity was 390 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