Exercise 9-1 Prepare a Flexible Budget (L09-1) 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) 200 Revenue ($410.000) $82,000 Expenses: Wages and salaries ($11,900 + $124.009) 36,700 Supplies ($4.009) 800 Equipment rental ($2,200 + $25.00) 7,200 Insurance ($3,900) 3,900 Miscellaneous ($540 + $1.489) 836 Total expense 49,436 Net operating income $ 32,564 During May, the company's actual activity was 190 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 Actual diving hours 190 Revenue Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income