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 (9) 200 $ 92,000 Revenue ($460.009) Expenses : Wages and salaries ($11,500 + $126.009) Supplies ($4.009) Equipment rental ($2,100 + $23.009) Insurance ($4,000) Miscellaneous ($510 + $1.449) Total ense Net operating income 36,700 800 6,700 4,000 798 48,998 $ 43,002 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.)