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) Revenue ($480.009) Expenses: Wages and salaries ($11,400 + $120.00q) Supplies ($5.009) Equipment rental ($2,200 + $21.00q) Insurance ($4,000) Miscellaneous ($540 + $1.50q) Total expense Net operating income 350 $ 168,000 53,400 1,750 9,550 4,000 1,065 69,765 $ 98,235 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) 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 0 Net operating income $ 0