1 #4. Complete parts a), b), and c). Total of 20 points possible. 3 Inklings Tour Company of England gives tours of Oxford. Inklings provided the following cost information: Expense Fixed Cost per Month Cost per ticket sold 5 Wages and salaries 500.00 $ 5.00 6 Fuel 1.00 7 Bus Rental 2,000.00 $ 8 Miscellaneous Expenses 600.00 $ 0.50 9 Tour bus maintenance 2.00 11 (For example, wages and salaries cost $500 per month plus $5 per ticket sold.) 12 The company expects to sell 1500 tickets in April at a price of $15 per ticket. a)Prepare the Inklings Tour Company planning budget for April. 20 b) During April, the Company actually sold 1600 tickets. Prepare the company's flexible budget for April c) The actual results for April appear below. Prepare a report flexible budget performance report that shows the company's revenue and spending variances and activity variances for April 1,600 23,500 35 Actual # tickets sold 36 Revenue 37 38 Expenses 39 Wages and salaries 40 Fuel 41 Bus Rental 42 Miscellaneous Expenses 43 Tour bus maintenance 44 Total expenses 45 Net operating income 8,750 1,575 2,000 1,425 3,100 16,850 6,650