Actual Hours were $105$Prepare a Flexible BudgetGiven: Revenue$365$per billable hourWages & Salaries$8000$flat $-$ plus$125$per billable hourSupplies$3$per billable hourEquipment Rental$1800$flat $-$ plus$32$per billable hourInsurance$3400$flatMiscellaneous$630$flat $-$ plus$1\mathrm{.}8$per billable hourPlanning Budget for the Month Ending May $31$ PlannedFlexibleActivityBudgeted Diving Hours $($Q$)100105$Variances$($flexible $-$ planned$)$ Revenue Expenses: Wages and Salaries Supplies Equipment Rental Insurance Miscellaneous Total Expenses Net Operating Income Activity & Revenue Increase Net Op Income Increasedue to the presence of fixed costs