repairs to clients in the Puget Sound area. 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 ($420.00q) Expenses: Wages and salaries ($11,300 + $122.00q) Supplies ($4.00q) Equipment rental ($2,400 +$23.00q) Insurance ($3,800) Miscellaneous ($540 +$1.46q) Total expense Net operating income 350 $ 147,000 54,000 1,400 10,450 3,800 1,051 70,701 $ 76,299 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 dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses Wages and salaries Supplies Equipment rental Insurance 340 Miscellaneous Total expense 0 Net operating income $ 0