Alyeski lours operates day lours of coastal glaciers in Alaska on its lour Dual ne Blue Glacier. Management nas iuen leu LWO COSL driversthe 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 85 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: Cost per Cruise $ 476.00 Cost per Passenger $ 3.10 Vessel operating costs Advertising Administrative costs Insurance Fixed Cost per Month $ 6,600 $ 2,100 $ 5,900 $ 3,500 $ 37.00 $ 1.50 For example, vessel operating costs should be $6,600 per month plus $476.00 per cruise plus $3.10 per passenger. The company's sales should average $30.00 per passenger. In July, the company provided 52 cruises for a total of 3,150 passengers. Required: Prepare the company's flexible budget for July. Alyeski Tours Flexible Budget For the Month Ended July 31 Actual cruises Budgeted passengers Revenue $ 94,500 Expenses: Vessel operating costs Advertising Administrative costs Insurance Total expense Net operating income $ 94,500 Alyeski jours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management nas identified two cost driversthe 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 85 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: Cost per Cruise $ 476.00 Cost per Passenger $ 3.10 Vessel operating costs Advertising Administrative costs Insurance Fixed Cost per Month $ 6,600 $ 2,100 $ 5,900 $ 3,500 $ 37.00 $ 1.50 For example, vessel operating costs should be $6,600 per month plus $476.00 per cruise plus $3.10 per passenger. The company's sales should average $30.00 per passenger. In July, the company provided 52 cruises for a total of 3,150 passengers. Required: Prepare the company's flexible budget for July. Alyeski Tours Flexible Budget For the Month Ended July 31 Actual cruises $ 94,500 Actual cruises Budgeted cruises AUYCILISTE Administrative costs Insurance Total expense 0 Net operating income $ 94,500