K&B is a small management consulting firm. Last month, the firm billed fewer hours than expected, and, as expected, profit were lower than anticipated. Billable hours Revenue Professional salaries (all variable) Other variable costs (e.g., supplies, computer services) Fixed costs Profit Reported Income Statement 11,500 $1,330,000 680,000 185,000 285, 80e $ 188,888 Master Budget 10,000 $1,300,000 630,000 188,888 290,00 $ 200,000 These are hours billed to clients. They are fewer than the number of hours worked because there is nonbillable time (eg. slack periods, time in training sessions) and because some time worked for clients is not charged to them, Required: Prepare a sales activity variance analysis. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Required: Prepare a sales activity variance analysis (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Flexible Budget (based on actual of 11.500 hours) Master Budget Sales Activity Variance (based on budgeted 10,000 hours) Revenue Costs: Professional salaries Int Other variable costs Fixed costs Total costs Proth