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 $120,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving hours (9) Revenue (5400.000) Expenses: Wages and salaries ($11,100+ $128.009) Supplles ($6.004) Equipment rental ($2,000 + 522.009) Insurance (54.100) Miscellaneous (5510+ $1.469) Total expense Net operating income 49,500 1,800 8,600 4,100 14 64,945 $ 55,052 During May, the company's actual activity was 290 diving hours