Exercise 9-1 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 (a) 300 $129.000 Revenue ($430.00) . Expenses: Wages and salaries ($11.900 + $124.009) Supplies (55.000) Equipment rental ($2,100 + $20.000) Insurance ($4,000) Miscellaneous ($540 + $1.489) Total expense Net Operating Income 49,100 1,500 8.100 4,000 63,684 $ 65, 316 During May, the company's actual activity was 290 diving hours Print Required: Prepare a flexible budget for May (Round your answers to the nearest whole dollar.) erences Puget Sound Divers Flexible Budget For the Month Ended May 31 Total expense Net operating income 63,684 $ 65,316 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 dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 E Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income