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200 $ 94,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($470.000) Expenses: Wages and salaries ($11,500 + $124.009) Supplies ($3.009) Equipment rental ($2,200 + $24.009) Insurance ($4,000) Miscellaneous ($530 + $1.469) Total expense Net operating income 36,300 600 7,000 4,000 822 48,722 $ 45,278 During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income