Exercise 9-1 (Algal Prepare a Flexible Budget [LOB-1] Puget Sound Divers is a company that provides diving services such as underwater ship 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 divinghours (q) 256 Revenue {$426.66q) 5 165,666 Expenses: wages and salaries ($11,166 + $125.66q) 42,666 Supplies ($6.66q) 1,566 Equipment rental ($2,266 + $22.66q) ?,?66 Insurance ($4,166) 4,166 Miscellaneous ($546 + $1.4Bq) 916 Total expense 56,816 Net operating income 5 43:199 During May, the company's actual activity was 240 divinghours. Required: Prepare a flexible budget for May. [Round your answers to the nearest whole number.) Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous M J3. D Total expense Net operating income