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 Hay 31 Budgeted diving-hours (q) 350 Revenue ($390.000) $136,500 Expenses Wages and salaries ($11,700 $120.00g). Supplies (55.00g) Equipment rental ($2,300 + $20.00g) Insurance ($4,100) Miscellaneous ($530 +$1.44q) Total expense, Net operating income 53,700 1,750 9,300 4,100) 1,034 69,884 $ 66,616 During May, the company's actual activity was 340 diving-hours.