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) 100 Revenue ($365.000) $36,500 Expenses Wages and salaries ($8,000 - $125.009) 20,500 Supplies (63.000 300 Equipment rental ($1,800 $32.000) 5,000 Insurance ($3,400) 3,400 Miscellaneous (5630 - $1.809) 810 Total expense 30,010 Not operating income $ 6,490 During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0