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) 350 Revenue ($410.009) $143,500 Expenses: Wages and salaries ($11,200 + $128.009) 56,000 Supplies ($6.009) 2,100 Equipment rental ($2,300 + $25.009) 11,050 Insurance ($4,100) Miscellaneous ($500 + $1.44q) Total expense Net operating income 4,100 1,004 74,254 $ 69,246 During May, the company's actual activity was 340 diving-hours.