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 (a) 250 Revenue ($480.000) $120.000 Expenses: Wages and salaries ($12,000+ $120.00) 42,000 Supplies ($4.089) 1,000 Equipment rental ($2,400 - $25.009) 8,650 Insurance (54,100) 4,100 Miscellaneous ($510 - $1.469) 875 Total expense 56,625 Net operating income $ 63,375 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) 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