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: 300 $ 114,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Hudgeted diving-hours (9) Revenue ($380.000) Expenses Wages and salaries ($11,400 + $120.00) Supplies ($6.009) Equipment rental ($2,000 - $26.004) Insurance ($3,900) Miscellaneous ($530 + $1.429) Total expense Net operating income 47.400 1,800 9,800 3,900 956 63,856 $ 50,144 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May (Round your answers to the nearest whole number.) 290 110,200 Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving hours Revenue $ Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ 1.740 61,280 48,920