Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($480.009) Expenses: Wages and salaries ($11,900 + $130.00q) Supplies ($4.00q) Equipment rental - ($2,500 + $23.00q) Insurance ($4,000), Miscellaneous ($550 + $1.46q) Total expenses Net operating income 300 $ 144,000 50,900 1,200 9,400 4,000 988 66,488 $ 77,512 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. Note: 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 expenses Net operating income