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 $84.000 Revenue ($420.00) Expenses: Wages and salaries ($11,100 + $126.00m) Supplies ($5.000) Equipment rental ($2,100 + $ 24.009) Insurance ($4,000) Miscellaneous ($520 + $1.449) Total expense Net operating income 36,300 1,000 6.900 4.000 808 49,008 $34,992 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.) 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