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 ($400.00q) $ 120,000 Expenses: Wages and salaries ($11,300 + $120.00q) 47,300 Supplies ($4.00q) 1,200 Equipment rental ($2,500 + $23.00q) 9,400 Insurance ($3,800) 3,800 Miscellaneous ($530 + $1.44q) 962 Total expense 62,662 Net operating income $ 57,338 During May, the companys actual activity was 290 diving-hours. Required: Prepare a flexible budget for May