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 ($365.00g) Expenses Wages and salaries ($8,000 +$125.00g) Supplies ($3.00g) Equipment rental ($1,800 +$32.00g) Insurance ($3,400) Miscellaneous ($630 +$1.00g) Total expense Net operating income 100 36,500 20,500 300 5,000 3,400 910 30,010 $6,490 During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue 105 I Expenses: Wages and salaries Supplies Equipment rental Insurance