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: Truget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours ta) 400 $164,000 Revenue ($410.000) Expenses Wages and salaries ($11,300 + $122.004) Supplies ($5.00) Equipnent rental ($2,100 + $25.000) Insurance (34,000) Miscellaneous ($520 + 51.44) Total expense Net operating income 60,100 2.000 12.100 4.000 1,096 79,296 $ 84,704 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.) 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 Budgeted diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0