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) 250 Revenue (5400.000) $100,000 Expenses: Wages and salaries ($11,208 . $126.000) 42,700 Supplies ($6.000) Equipment rental ($2,300 - $21.009) 7,550 Insurance ($3,800) 3,800 Miscellaneous (5550 - $1.424) Total expense 56455 Net operating income $ 43,545 During May, the company's actual activity was 240 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 During May, the company's actual activity was 240 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 Budgeted diving-hours Supplies Equipment rental Insurance Miscellaneous Total expense Not operating income During May, the company's actual activity was 240 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 Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income