Please help answer required questions 1-3

PROBLEM 10-21 Critique a Report; Prepare a Performance Report ILO 10-1, LO 10-4, LO 10-6 TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Results Budget Variances Lessons 155 150 $33,900 $33,000 $900 F Expenses: 9,870 9,750 5,890 5,700 2,750 2.250 2,330 1,540 1,550 3,320 3,390 ..25,820 24,970 120 U 190 U 500 U 120 U 10 F 70 F 850 U Alrcraft depreciation Fuel. 2,450 Ground facility expenses. Total expense Net operating income$ 8,080 $ 8,030 50F