Exercise 9-1 Prepare a Flexible Budget (LO9-1] 10 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: points eBook Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Hint 300 $129,000 Print References Revenue ($430.00) Expenses : Wages and salaries ($11,000 + $120.00) Supplies ($5.009) Equipment rental ($2,100 + $25.000) Insurance ($3,900) Miscellaneous ($520 + $1.50g) Total expense Net operating income 47,000 1,500 9,600 3,900 970 62,970 $ 66,030 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 21