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 Hudgeted diving-hours (a) 300 $141,000 Revenue ($470.009) Expenses Nages and salaries ($11,900 + $130.000) Supplies ($3.009) Equipment rental ($2,000 - $25.00) Insurance ($3,900) Miscellaneous (5520 + $1.489) Total expense Net operating income 50,900 900 9,500 3,900 964 66,164 $ 74,836 During May, the company's actual activity was 290 diving-hours. Required: Prepare a fiexible budget for May. (Round your answers to the nearest whole dollar) ,3 Insurance, UV) Miscellaneous ($520 + $1.489) Total expense Net operating income 964 66,164 $ 74,836 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 Revenue Expenses: Wages and salarios Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income