Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 250 $112,500 33:16 Revenue ($450.089) Expenses: Wages and salaries ($11,200 + $120.889) Supplies ($5.899) Equipment rental ($2,000 + $21.00) Insurance ($4,600) Miscellaneous (5510 + $1.489) Total expense Net operating income 41,2ee 1,25e 7,250 4,000 880 54,580 $ 57,920 1 nicos 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.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Draw 1 Flexible Budget For the Month Ended May 31 Actual diving-hours 240 $ 108,000 -50 Revenue Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income 40,000 1,200 7,040 4,000 865 53,105 54,895 $