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) 350 $ 136,500 Revenue ($390.00q) Expenses: Wages and salaries ($11,400 + $122.009) Supplies ($6.000) Equipment rental ($2,300 + $21.009) Insurance ($4,000) Miscellaneous ($510 + $1.489) Total expense Net operating income 54,100 2,100 9,650 4,000 1,028 70,878 $ 65, 622 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 dollar.) 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 Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0