Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 250 $117,500 Revenue ($470.009) Expenses: Wages and salaries ($11,300 + $120.009) Supplies ($4.009) Equipment rental ($2,300 + $23.009) Insurance ($4,200) Miscellaneous ($510 + $1.509) Total expense Net operating income 41,300 1,000 8,050 4,200 885 55,435 $ 62,065 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 number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0