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) Revenue ($410.000) 250 $102,500 42,900 Expenses: Wages and salaries ($11,400 + $126.00) Supplies ($6.000) Equipment rental ($2,200 + $25.000) Insurance ($4,100) Miscellaneous ($520 + $1.429) 1,500 8,450 4,100 875 Total expense 57,825 Net operating income $44,675 Required: During May, the company's activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity. Nel Upeldilly Culle $44,675 Required: During May, the company's activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity. 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