15. 150 points value: Icicle Bay Tours operates day tours of coastal glaciers in Alaska on its tour boat the Emerald Glacier Management has identified two cost drivers- the number of cruises and the number of passengers-that it uses in its budgeting and performance reports. The company publishes a schedule of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 80 passengers can be accommodated on the tour boat Data concerning the company's cost formulas appear below Fixed Cost Cost per Cost per Per Month Cruise Passenger 6,700$475.00 3.20 Vessel operating costs Advertising Administrative costs Insurance $ 2,700 $ 5,400 38.00 $1.50 For example, vessel operating costs should be $6,700 per month plus $475.00 per cruise plus $3.20 per passenger. The company's sales should average $29.00 per passenger. The company's planning budget for August is based on 56 cruises and 3,150 passengers. Required: Complete the company's planning budget for August Icicle Bay Tours Planning Budget For the Month Ended August 31 Revenue Expenses: Vessel operating costs Advertising Administrative costs Insurance Total expense Net operating income