Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 350 $150,500 Revenue ($430.009) Expenses: Wages and salaries ($11,900 + $126.009) Supplies ($4.009) Equipment rental ($2,500 + $23.009) Insurance ($3,900) Miscellaneous ($530 + $1.489) Total expense Net operating income 56,000 1,400 10,550 3,900 1,048 72,898 $ 77,602 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 number.) 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