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 $($q$)350$

Revenue $($$$420\mathrm{.}00$q$)$ $ $147,000$

Expenses:

Wages and salaries $($$$11,100+$ $$124\mathrm{.}00$q$)54,500$

Supplies $($$$5\mathrm{.}00$q$)1,750$

Equipment rental $($$$2,100+$ $$22\mathrm{.}00$q$)9,800$

Insurance $($$$4,000)4,000$

Miscellaneous $($$$540+$ $$1\mathrm{.}48$q$)1,058$

Total expense $71,108$

Net operating income $ $75,892$

During May, the company$$s actual activity was $340$ diving$-$hours.

Required:

Prepare a flexible budget for May. Include: revenue, wages and salaries, supplies, eqipment rental, insurance, miscellaneous, total expenses, and net operating income.