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) 250 $107,500 Revenue ($430.00) Expenses: Wages and salaries ($11,000 + $126.00) Supplies ($5.000) Equipment rental ($2,000 + $23.00) Insurance ($4,000) Miscellaneous ($500 + $1.489) Total expense Net operating income 42,500 1,250 7,750 4,000 870 56, 370 $ 51, 130 During May, the company's actual activity was 240 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 Total expense Net operating income