EXERCISE 9-1 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 area. The company's planning budget for May appears below: Required: During May, the company's activity was actually 105 diving-hours. Prepare a flexible budget for that level of activity. EX 9-1 During May, the activity was 105 diving hours. Prepare the flexible budget for that level of ictivity \begin{tabular}{|l|l|} \hline \multicolumn{2}{|l|}{} \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} EXERCISE 9-2 Prepare a Report Showing Activity Variances [LO9-2] Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company's planning budget for July appears below: In July, 17,800 meals were actually served. The company's flexible budget for this level of activity appears below: Required: 1. Prepare a report showing the company's activity variances for July. 2. Which of the activity variances should be of concern to management? Explain. EX 9-2 \#2, Which of the activity variance should be of concern to managment? Explain