Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for May appears below:

Required: During May, the companys activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity.

Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($470.009) 250 117,500 $ Expenses: Wages and salaries ($11,700 + $128.009) Supplies ($6.00q) Equipment rental ($2,500 + $22.00q) Insurance ($4,200) Miscellaneous ($510 + $1.429) 43,700 1,500 8,000 4,200 865 58,265 Total expense Net operating income 59,235 $ 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