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 (a) Revenue ($365.000) Expenses: Hages and salaries (50,000 +$125.000) Supplies ($3.000) Equipment rental ($1,800 +$32.000) Insurance ($3,400) Miscellaneous (5630 $1.800) Total expense Net operating income 100 $36,500 20,500 300 5,000 3,400 610 30,010 $6,490 During May, the company's actual activity was 105 diving-hours