little more descriptive answer.

Fantastic sicy tours pty itd Performance Report for the month of April 2020 Formula flexible Achal ( 32000 budget (per-air 1 static budget variance air - km ) ( 35000 air -km) Passenger revenue $3.50 Lese:- variable costs $212000 $ 12 2500 $ 10500 U Fuel 0 . 50 Aircraft maintenance 0. 75- 17000 23500 14500 flight crew salaries 0.40 26250 50 0F 2750 F Selling 2) adm. 12100 14000 0. 30 90OF 24900 280 00 Total variable exxlens $ 2.45 3100 F $ 78500 $ 85750 $ 7250 - contribution margin $ 2:05 $83500 $ 36750 $ 3250 0 Less! =fixed cost. . Depp on aircraft $ 2900 $ 2900 $ 2900 Landing tees 900 100 U Supervisory salaries gooo 860 0 900 0 400 F selling Dadm. 21000 12400 140OD 140 0 U Total fixed expenses $23800 $ 24900 d 2320 0 $MOOU Net profit $ 8600 $ 1 2950 $ 4350 U 1) Explain why the company's April net profit was only about two - thirds of the expected level, despite several favourable variable expense variance chown in the! performance, report. (2) Explain why the original performance / variance report prepared by the manager a Aircraft operations is misleading. [) Milinda Jenkins presented her revised performance report to Robert smith along with the explanation why the original performance report was misleading. Robert did not take it well . He complained y mirandas interference . * what are Miranda's ethical obligations as a CPA in this matter? what should she do