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) 400 $160,000 Revenue ($400.009) Expenses : Wages and salaries ($11,300 + $130.00) Supplies ($3.00) Equipment rental ($2,000 + $21.009) Insurance ($4,200) Miscellaneous ($510 + $1.469) Total expense Net operating income 63,300 1,200 10,400 4,200 1,094 80,194 $ 79, 806 During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue $ 160,000 Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 160,000