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: 300 $ 138,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (g) Revenue ($460.000) Expenses : Wages and salaries ($11,900 + $122.00) Supplies ($4.009) Equipment rental ($2,400 + $24.009) Insurance ($4,000) Miscellaneoun ($510 + $1.469) Total expense Net operating income 48,500 1,200 9,600 4,000 948 64,248 $ 73, 752 During May, the company's actual activity was 290 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 Revenue Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous 300 $ 138,000 CUL UNG TUMI DIUEu nay 31 Budgeted diving-hours (9) Revenue ($460.00g) Expenses: Wages and salaries ($11,900 + $122.00) Supplies ($4.00g) Equipment rental ($2,400 + $24.009) Insurance ($4,000) Miscellaneous ($510 + $1.469) Total expense Net operating income 48,500 1,200 9,600 4,000 948 64,248 $ 73, 752 1 During May, the company's actual activity was 290 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 es Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income