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) 350 Revenue ($460.000) $ 161,000 Expenses Wages and salaries ($11,700 + $124.00) 55,100 Supplies ($4.009) 1,400 Equipment rental ($2,100 + $24.009) 10,500 Insurance ($4,200) 4,200 Miscellaneous ($520 + $1.449) 1,024 Total expense 72,224 Net operating income $ 88,776 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 number.) During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whe 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 Net operating income $ 0 $ 0