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) 300 Revenue ($430.00g) Expenses: Wages and salaries ($11,400 +$124.00g) Supplies ($5.00g) Equipment rental ($2,200 + $20.00g) Insurance ($4,200) Miscellaneous ($530 +$1.50g) Total expense Net operating income $ 129,000 48,600 1,500 8,200 4,200 980 63,480 $ 65,520 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 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