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) 350 $ 161,000 Revenue ($460.009) Expenses: Wages and salaries ($11,600 + $122.009) Supplies ($4.00) Equipment rental ($2,500 + $21.009) Insurance ($4,000) Miscellaneous ($550 + $1.429) Total expense Net operating income 54,300 1,400 9,850 4,000 1,047 70,597 $ 90, 403 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