Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 250 Revenue ($450.00q) $ 112,500 Expenses: Wages and salaries ($11,500 + $122.00q) 42,000 Supplies ($6.00q) 1,500 Equipment rental ($2,100 + $24.00q) 8,100 Insurance ($4,200) 4,200 Miscellaneous ($550 + $1.50q) 925 Total expense 56,725 Net operating income $ 55,775 Required: During May, the companys activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity.