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) 250 Revenue ($410.000) $102,500 Expenses : Wages and salaries ($11,400 + $124.009) 42,400 Supplies ($5.009) 1, 250 Equipment rental (52,5 + $20.009) 7,500 Insurance ($4, 100) 4,100 Miscellaneous ($510 + $1.429) 865 Total expense 56, 115 Net operating income $ 46,385 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.) Answer is complete but not entirely correct. Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours 240 Revenue $ 102,500 = = = = = = = = Prey. 1 of 6 Next > For the Month Ended May 31 Actual diving-hours 240 Revenue $ 102,500 x Expenses: Wages and salaries 42,400 x 1,250 X Supplies Equipment rental 7,500 x Insurance 4,100 Miscellaneous 865 x Total expense 56,115 Net operating income $ 46,385