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 $ 157,500 Revenue ($450.009) Expenses : Wages and salaries ($11,100 + $126.00) Supplies ($4.009) Equipment rental ($2,100 + $20.00) Insurance ($4,000) Miscellaneous ($530 + $1.489) Total expense Net operating income 55,200 1,400 9,100 4,000 1,048 70,748 $ 86,752 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 number.)