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) 250 $ 105,000 Revenue ($420.00) Expenses: Wages and salaries ($11,600 + $130.00) Supplies ($6.00) Equipment rental ($2,200 + $25.009) Insurance ($4,000) Miscellaneous ($530 + $1.469) Total expense Net operating income 44,100 1,500 8,450 4,000 895 58,945 $ 46,055 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 dollar.) X Answer is not complete. Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue $ 187,200 X Expenses: Wages and salaries Supplies Equipment rental Insurance 42,300 1,440 8,200 Miscellaneous 880 Total expense 52,820 Net operating income $ 134,380