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 Divern Planning Nudget For the Month Unded May 31 Budgeted diving-hours (g) 250 Revenue ($480.000) $ 120,000 Expenses Wages and salaries ($11,400 + $122.009) 41,900 Supplies ($6.000) 1,500 Equipment rental ($2,500 $24.004) 8,500 Insurance ($3,800) 3,800 Miscellaneous ($530+ $1.429) 885 Total expense 56,585 Not operating income # 63,415 During May, the company's actual activity was 240 diving-hours Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) During May, the company's actual activity was 240 diving-hours. 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