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) 100 Revenue ($365.600) $36.500 Expenses Hages and salaries (50,000+ $125.004) 20,500 Supplies (53.004) 300 Equipeent rental ($1,200 $32.00) 5,000 Insurance (59,400) 1,400 Miscellaneous (5630 + 51.869) 810 Total expense 30.010 Net operating income 56,490 rences During May, the company's actual activity was 105 diving hours Required: Prepare a flexible budget for May Puget Sound Divers Flexible Budget Prey 1 of 7 18 Next > Required: Prepare a flexible budget for May Puget Sound Divers Flexible Budget For the Month Ended May 31 rences Revenue Expenses Wages and salarios Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income