Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($390.009) Expenses: Wages and salaries ($11,800 + $130.009) Supplies ($4.00g) Equipment rental ($2,400 + $24.009) Insurance ($4,100) Miscellaneous ($520 +$1.50g) Total expense Net operating income 350 $ 136,500 57,300 1,400 10,800 4,100 1,045 74,645 $ 61,855 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 n Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income 0