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 $ 120,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($400.00) Expenses : Wages and salaries ($11,000 + $130.009) Supplies ($4.00) Equipment rental ($2,000 + $22.00g) Insurance ($4,000) Miscellaneous ($500 + $1.489) Total expense Net operating income 50,000 1,200 8,600 4,000 944 64, 744 $ 55, 256 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 dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance