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) 350 $143.5ee Revenue ($410.ee) Expenses: Wages and salaries ($11,200 + $126.689) Supplies ($4.wag) Equipment rental ($2,499 + $21.889) Insurance ($3,8ee) Miscellaneous ($520 + $1.489) Total expense Net operating income 55,380 1.480 9,750 3, Bee 1.038 71,288 $ 72,212 During May, the company's actual activity was 340 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 I Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income