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) 3ee $117,000 Revenue ($390.889) Expenses: Wages and salaries ($11,480 + $122.ee) Supplies ($3.889) Equipment rental ($2,200 + $22.889) Insurance ($4,100) Miscellaneous ($548 + $1.489) Total expense Net operating income 48, eee 900 8,800 4,100 984 62,784 $ 54,216 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 0 Net operating income $ 0