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) 350 $150,500 Revenue ($430.00g) Expenses: Wages and salaries ($12,000 + $124.00q) Supplies ($5.009) Equipment rental ($2,200 + $25.00q) Insurance ($4,000) Miscellaneous ($510 + $1.449) Total expense Net operating income 55,400 1,750 10,950 4,000 1,014 73, 114 $ 77,386 During May, the company's actual activity was 340 diving-hours