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Exercise 9-1 (Static) 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: During May, the company's actual activity was 105 diving hours. Required: Prepare a flexible budget for May. Exercise 9.2 (Static) Prepare a Report Showing Revenue and Spending Variances [LO9-2] Quilcene Oysteria farms and sells oysters in the Pocific Northwest. The company harvested and sold 8,000 pounds of oysters in August. The company's flexible budget for August appears below: The actual results for August appear below: Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each voriance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each varionce by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all nmounts as positive values.) Exercise 9-3 (Static) Prepare a Flexible Budget with More Than One Cost Driver [LO9-3] Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management has identified two cost drivers-the number of cruises and the number of passengers - that it uses in its budgeting and performance reports. The company publishes a schedule of day cruises that it may supplement with special sallings if there is 5 ufficient demand. Up to 80 passengers can be accommodated on the tour boat. Data conceming the company's cost formulas appeor below: For example, vessel operating costs should be $5,200 per month plus $480 per cruise plus $2 per passenger. The company's sales should average $25 per passenger. In July, the company provided 24 cruises for a total of 1,400 passengers. Required: Prepare the company's flexible budget for July. You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and "do whot you can to help us get better control of our manufacturing overhead costs "You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: During March, the company worked 18,000 machine-hours ond prousuev ...... The company had originally plonned to work 20,000 machine-hours during March. Required: 1. Prepare a flexible budget for March. 2 Prepare a report showing the spending variances for March. Complete this question by entering your answers in the tabs below. Prepare a flexible budget for March. (Input all amounts as positive values.) Complete this question by entering your answers in the tabs below. Prepare a report showing the spending variances for March. (Indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)