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 divinghours (q) 350 Revenue ($420.00q) $ 147,000 Expenses: Wages and salaries ($11,500 + $126.00q) 55,600 Supplies ($4.00q) 1,400 Equipment rental ($2,100 + $24.00q) 10,500 Insurance ($3,900) 3,900 Miscellaneous ($530 + $1.44q) 1,034 Total expense 72,434 Net operating income 5 74'566 During May, the company's actual activity was 340 diving-hours. 9 Answer is complete but not entirely correct. Actual diving-hours Revenue $ 142,800 9 Wages and salaries 54,340 0 Equipment rental Insurance Miscellaneous Total expense Net operating income m