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 (g) 350 $157,500 Revenue ($450.009) Expenses: Wages and salaries ($11,400 + $120.00) Supplies ($5.00) Equipment rental ($2,300 + $25.00g) Insurance ($4,100) Miscellaneous ($500 + $1.469) Total expense Net operating income 53,400 1,750 11,050 4,100 1,011 71,311 $ 86,189 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income