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 $ 136,500 Revenue ($390.009) Expenses : Wages and salaries ($11,700 + $124.00) Supplies ($5.00) Equipment rental ($2,100 + $23.00g) Insurance ($4,000) Miscellaneous ($520 + $1.429) Total expense Net operating income 55,100 1,750 10, 150 4,000 1,017 72,017 $ 64,483 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 Miscellaneous ($520 + $1.429) Total expense Net operating income 1,01% 72,017 $ 64,483 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