Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($365.00q) Expenses: Wages and salaries ($8,000 + $125.00q) Supplies ($3.00q) Equipment rental ($1,800+ $32.00q) Insurance ($3,400) Miscellaneous ($630 +$1.80q) Total expenses Net operating income 100 $ 36,500 20,500 300 5,000 3,400 810 30,010 $ 6,490 During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expenses 0 Net operating income $ 0 Prev 1 of 8 Next >