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 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) 250 Revenue ($420.00) $ 105,000 Expenses : Wages and salaries ($11,400 + $122.00) 41,900 Supplies ($5.009) 1,250 Equipment rental ($2,300 + $24.009) 8,300 Insurance ($4,000) 4,000 Miscellaneous ($520 + $1.449) 880 Total expense 56,330 Net operating income $ 48,670 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)