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) 100 Revenue ($365.000) $ 36,500 Expenses Wages and salaries ($8,000 + $125.009) 20,500 Supplies ($3.009) 300 Equipment rental ($1,800 + $32.004) 5,000 Insurance ($3,400) 3,400 Miscellaneous (5630 + $1.809) 810 Total expense 30,010 Net operating income $ 6,490 During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Not operating income