1. Prepare a columnar flexible budget for Flaming Foliage Sky Tours' expenses, using air miles as the cost driver at the following activity levels: 40,000 air miles, 43,000 air miles, and 46,000 air miles. 2. In spite of several favorable expense variances shown on the report above, the company's September operating income was only about two-thirds of the expected level. Identify some of the possible reasons. 4. Prepare a revised expense variance report for September, which is based on the flexible budget prepared in part (1). 5. Jacqueline Frost presented the revised expense report to Leif along with the memo explaining why the original performance report was misleading. Leif did not take it well. He complained of Frost's "interference" and pointed out that the company had been doing just fine without her. "I'm taking my report to the owner tomorrow," Leif insisted. "Yours just makes us look bad." What are Frost's ethical obligations in this matter? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Required 5 Prepare a columnar flexible budget for Flaming Foliage Sky Tours' expenses, using air miles as the cost driver at the following activity levels: 40,000 air miles, 43,000 air miles, and 46,000 air miles. Variable expenses: 40,000 Activity Level (Air Miles) 43,000 46,000 Total variable expenses $ 0 $ 0 $ 0 Fixed expenses: Total fixed expenses $ 0 $ 0 $ 0 Total expenses