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) 300 Revenue ($410.00q) $ 123,000 Expenses: Wages and salaries ($11,200 + $124.00q) 48,400 Supplies ($4.00q) 1,200 Equipment rental ($2,300 + $22.00q) 8,900 Insurance ($4,200) 4,200 Miscellaneous ($540 + $1.48q) 984 Total expense 63,684 Net operating income $ 59,316 During May, the companys actual activity was 290 diving-hours. Required: Prepare a flexible budget for May.