Assigpment Tasks and Report Rguirements Assuming the role of Miranda Jenkins at Fantastic Sky Tours Pty Ltd1 prepare a report to the owner of the company providing explanations and revised reports in relation to the operating performance in April 2020, and address her ethical obligations arising from the response from the manager of Aircraft Operations. Your report should contain the following three parts: Part I 1. Explain why the company's April net prot was only about two-thirds of the expected level, despite several favourable variable expense variances shown in the above performance report. 2. Explain why the original performance/variance report prepared by the manager of Aircraft Operations is misleading. Part I] 1. Prepare exible budgets for the company based on the following activity levels: (a) 32 000 air-kilometres. (b) 35 000 air-kilometres. (c) 38 000 air-kilometres. 2. Prepare a revised performance report showing the proper variances for April, based on the exible budget that you prepared above