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Exercise 9-1 (Algo) Prepare a Flexible Budget (LO9-1) Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound areo, The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 nadgated diving-hours (9) 350 Revenue (440.000) 5 156,000 Expenses Wagon and salaries ($12,000+ $130.000) 57,500 Supplies ($6.0093 1,400 Equipment rental ($2,300 + $25.000) 11,050 Insurance (93,900) 3,900 Miscellaneous (5510 51.460) 1.02 Total expense 74,021 Net operating income $ 79,129 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.) 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 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income 0 $ 0