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 (g) Revenue ($400.00g) Expenses: Wages and salaries ($11,800 +$128.00g) Supplies ($5.00g) Equipment rental ($2,400 + $23.00g) Insurance ($4,100) Miscellaneous ($540 + $1.44g) Total expense Net operating income 400 $ 160,000 63,000 2,000 11,600 4,100 1,116 81,816 $ 78,184 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