hudget 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 For the Month Ended May 31 Budgolod diving-hours (a) 250 Revenue ($390.009) $ 97,500 Expenses: Wages and salaries ($11,900 + $130.000) Supplies (S5.00g) Equipment rental ($2,400 + $26.000) Insurance ($3,900) Miscellaneous (S530 + $1.489) 44,400 1.250 8,900 3,900 900 Total expense 59,350 Not operating income $ 38,150 Required: During May, the company's activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous 0 Total expense Net operating income $ 0