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 ($440.000) $156,000 Expenses: Wages and salaries (511,400 - $124.009) 54,000 Supplies ($5.000) 1.750 Equipment rental (52,300 $26.000) 11,400 Insurance (53,900) 3,900 Miscellaneous ($520 $1.500) 1.045 Total expense 72,695 Net operating income $ 81,105 5 During May, the company's actual activity was 340 diving hours, Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dolor) Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income