Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for May appears below:

Puget Sound Divers

Planning Budget

For the Month Ended May 31

Budgeted diving-hours (q) 100

Revenue ($365.00q) $ 36,500

Expenses:

Wages and salaries ($8,000 + $125.00q) 20,500

Supplies ($3.00q) 300

Equipment rental ($1,800 + $32.00q) 5,000

Insurance ($3,400) 3,400

Miscellaneous ($630 + $1.80q) 810

Total expense 30,010

Net operating income $ 6,490

During May, the companys actual activity was 105 diving-hours.

100 $ 36,500 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($365.00g) Expenses: Wages and salaries ($8,000 + $125.00g) Supplies ($3.00) Equipment rental ($1,800 + $32.00g) Insurance ($3,400) Miscellaneous ($630 + $1.80) Total expense Net operating income 20,500 300 5,000 3,400 810 30,010 $ 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 Net operating income 0 $ $ 0