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 (a) 250 Revenue (5480.809) $120,000 Expensest Wages and salaries ($12,000 - $120.00) 42,000 Supplies ($4.089) 1,000 Equipment rental ($2,400 $25.089) 8,650 Insurance ($4,100) 4,100 Miscellaneous ($510 + 51.469) 875 Total expense 56,625 Net operating income $ 63,375 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0