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: 250 $ 107,500 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($ 430.009) Expenses: Wages and salaries ($11,000 + $120.00) Supplies ($5.009) Equipment rental ($2,000 + $22.009) Insurance ($4,100) Miscellaneous ($530 + $1.469) Total expense Net operating income 41,000 1,250 7,500 4,100 895 54,745 $ 52,755 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.) X Answer is complete but not entirely correct. Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours 240 Revenue $ 103,200 Expenses: Wages and salaries 41,000 X 1,250 X Supplies Equipment rental 7,500 Insurance 4,100 Miscellaneous 895 Total expense 54,745 Net operating income $ 48,455