Mcinerney Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (i.e., cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tour guide. The company uses the following data in its budgeting: Variable element per guest $ 96 Fixed element per month 0 S 0 $ 3,950 $ 2,650 Revenue Tour guide wages Vehicle expenses Administrative expenses Variable element per jeep $ 0 $ 119 $ 62 $ 0 $ $ 9 2 In October, the company budgeted for 326 guests and 92 jeeps. The actual activity for the month was 345 guests and 100 jeeps. Required: Prepare the company's flexible budget for the actual level of activity in October. Required: Prepare the company's flexible budget for the actual level of activity in October. 345 100 Mcinerney Jeep Tours Flexible Budget For the Month Ended October 31 Actual guests Actual jeeps Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income