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) 400 $180,000 Revenue ($450.009) Expenses : Wages and salaries ($11,600 + $126.009) Supplies ($5.009) Equipment rental ($2,100 + $25.009) Insurance ($3,900) Miscellaneous ($540 + $1.509) Total expense Net operating income 62,000 2,000 12,100 3,900 1,140 81,140 $ 98,860 During May, the company's actual activity was 390 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 Budgeted diving-hours 390 Revenue $ 175,500 Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income 175,500