Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 350 $147,000 Revenue ($420.009) Expenses: Wages and salaries ($11,000 + $130.000) Supplies ($5.009) Equipment rental ($2,400 + $26.009) Insurance ($4,200) Miscellaneous ($520 + $1.509) Total expense Net operating income 56,500 1,750 11,500 4,200 1,045 74,995 $ 72,005 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 Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous