Fantastic Sky Tours Pty Ltd Performance Report for the month of April 2020 Passenger revenue Less Variable costs: Fuel Aircraft maintenance Flight crew salaries Selling and administration Total variable expenses Contribution margin Less Fixed costs: Depreciation on aircraft Landing fees Supelvisory salaries Selling and administrative Total fixed expenses Net profit Formula flexible budget (per air-km) $3.50 0.50 0.75 0.40 0.80 $2.45 $1.05 $2 900 900 9 ooo 11 ooo $23 800 Actual (32 ooo air-km) 12 OOO 17 ooo 23 500 13 100 24 900 s 78 500 s 33 500 s 2 900 1 ooo 8 600 12 400 s 24 900 s 8 600 Static budget (35 ooo air-km) $122 500 17 500 26 250 14 ooo 28 ooo s 85 750 s 36 750 s 2 900 900 9 ooo 11 ooo s 23 800 s 12 950 Variance $10 500 U 500 F 900 F 7 250 F s 32501.1 100 U 400 F 1 400 U 1 100 U $ 43501.1