Exercise 9-5 (Algo) Prepare a Flexible Budget with More Than One Cost Driver (LO9-5) Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boot the Blue 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 sellings if there is sufficient demand Up to 83 passengers can be accommodated on the tour boat. Dato concerning the company's cost formulas appear below: Fixed cost per Month Cost per Cruise Cost per Passenger Vennel operating costs $ 6,200 $ 474.00 5 3.20 Advertising $ 2,200 Administrative costa $ 5,800 $ 37.00 $1.50 Insurance $ 3,800 For example, vossel operating costs should be $6,200 per month plus $474.00 per cruise plus $3.20 per passenger. The company's sales should average $32,00 per passenger. In July, the company provided 55 cruises for a total of 3,100 passengers. Required: Prepare the company's flexible budget for July Required: Prepare the company's flexible budget for July. Alyeski Tours Flexible Budget For the Month Ended July 31 s Revenue Expenses: Vessel operating costs Advertising Administrative costs Insurance Total expense Net operating income