Help Save & Exit Submit Check my work 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 diving-hours (q) Revenue ($365. 00q) 100 Expenses : $ 36, 500 Wages and salaries ($8, 000 + $125.00q) Supplies ($3.00q) 20, 500 300 Equipment rental ($1, 800 + $32.00q) 5, 000 Insurance ($3, 400) 3, 400 Miscellaneous ($630 + $1.80q) 810 Total expense 30 , 010 Net operating income $ 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 Actual diving-hours 105 Revenue $ 38,325 Expenses Wages and salaries 21, 125 Supplies 315 Equipment rental 5,250 3,400 Insurance 819: Miscellaneous 30,909 Total expense $ 7,416 Net operating income