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) Revenue ($410.00g) Expenses: Wages and salaries ($11,600 +$122.00g) Supplies ($4.00g) Equipment rental ($2,000 +$21.00g) Insurance ($4,000) Miscellaneous ($550 $1.44g) Total expense Net operating income 300 $ 123,000 48,200 1,200 8,300 4,000 982 62,682 $ 60,318 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)