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. 350 $164,500 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (a) Revenue ($470.089) Expenses: Wages and salaries ($11,680 + $122.089) Supplies ($4.009) Equipment rental ($2,400 + $21.989) Tnsurance (54,100) Miscellaneous (5510 + $1.449) Total expense Net operating income 54,300 1,400 9,750 4,100 1,014 70,564 $ 93,936 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 dollar.) Puget Sound Divers Flexible Budoer Total expense Net operating income 70,564 $ 93,936 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the ne 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 0 0 $ $