K&B is a small management consulting firm. Last month, the firm billed fewer hours than expected, and, as expected, profits were lower than anticipated.^a These are hours billed to clients. They are fewer than the number of hours worked because there is no billable time (e.g., slack periods, time in training sessions) and because some time worked for clients is not charged to them. Prepare a flexible budget for K&B. Use billable hours as the measure of output (that is, units produced). (Do not round intermediate calculations.)