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 ($430.00g) Expenses: Wages and salaries ($11,100 +$124.00q): Supplies ($3.00q) Equipment rental ($2,100 + $25.00q) Insurance ($3,900) Miscellaneous ($500 +$1.48q) Total expense Net operating income 300 $ 129,000 48,300 900 9,600 3,900 944 63,644 $ 65,356 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.) 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