Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management has identified two cost drivers-the number of cruises and the number of passengers--that it uses in its budget publishes a schedule be accommodated on the tour boat. Data concerning the company's cost formulas appear below: ting and performance reports. The company of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 84 passengers can Fixed Cost per Month Cost per Cruise cost per Passenger $ 3.10 Vessel operating costs Advertising Administrative costs Insurance 6,300 $ 2,100 $5,900 $3,400 $ 478.00 $ 38.00 $ 1.50 For example, vessel operating costs should be $6,300 per month plus $478.00 per cruise plus $3.10 per passenger. The companys sales should average $31.00 per passenger. In July, the company provided 54 cruises for a total of 3150 passengers. Required: Prepare the company's flexible budget for July. Alyeski Tours Flexible Budget For the Month Ended July 31 Revenue Expenses Vessel operating costs Advertising Administrative costs Insurance Total expense Net operating income