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 the Month Ended May Budgeted diving-hours (q) 100 Revenue ($365.00g) Expensesi Hages and salaries (58,000 $125.00g) Supplies ($3.00g) Equipment rental ($1,800+$32.00g) Insurance ($3,400) Miscellaneous ($630$1.80g) 20,500 300 ,000 3,400 Total expense Net operating income $ 6,490 During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income