The company's planning budget for May appears below: Phi-Phi Diving Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 300 $141,000 48,500 Revenue ($470.00 g) Expenses: Wages and salaries ($11,300 + $124.00g) Supplies ($6.00 q) Equipment rental ($2,200 + $25.009) Insurance ($4,100) Miscellaneous ($520 + $1.50q) 1,800 9,7001 4,100 964 Total expense 65,064 $ 75,936 Net operating income During May, the company's actual activity was 350 diving-hours. Requirement: Prepare a flexible budget for May. (Please do not use the dollar sign.) Requirement: Prepare a flexible budget for May. (Please do not use the dollar sign.) Phi-Phi Diving Flexible Budget For the month ended May 31 Revenue Expenses Wages and salaries Suplies gulment rental Insurance Miscellaneous Total pense Net operating income