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) 200 $ 88,000 Revenue ($440.000) Expenses : Wages and salaries ($11,900 + $122.00) Supplies ($5.00) Equipment rental ($2,000 + $25.009) Insurance ($4,200) Miscellaneous ($540 + $1.489) Total expense Net operating income 36,300 1,000 7,000 4,200 836 49,336 $ 38,664 During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) 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