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 $164,500 Revenue ($470.009) Expenses: Wages and salaries ($11,200 + $128.009) Supplies ($6.009) Equipment rental ($2,400 + $25.009) Insurance ($3,800) Miscellaneous ($540 + $1.469) Total expense Net operating income 56,000 2,100 11,150 3,800 1,051 74,101 $ 90,399 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 56.000 Total expense Net operating income $ 108,500