A company operates sight-seeing buses. Management has identified two cost drivers-the number of buses in operation and the number of passengers served that it uses in its budgeting and performance reports. Data concerning the company's cost formulas appear below: Cost per Bus $ 476 Cost per Passenger $ 4.5 Vehicle operating costs Advertising Administrative costs Fixed Cost per Month $ 6.800 $ 2.500 $ 5.300 $ 3,900 $ 38 $ 1.5 Insurance For example, vehicle operating costs should be $6,800 per month plus $476 per bus plus $4.5 per passenger. The company's sales revenue should average $32 per passenger. In July, the company operated 55 buses and served a total of 3,200 passengers. How much is the company's flexible budget operating income for July? Multiple Choice $55,020 $65,970 $32.980 Multiple Choice $55,020 $65,970 $32,980 $36,430