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 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 88 passengers can be accommodated on the tour boat. Data concerning the company's cost formulas appear below: Vessel operating costs Advertising Administrative costs. Insurance Required: Prepare the company's flexible budget for July. For example, vessel operating costs should be $6,600 per month plus $480.00 per cruise plus $3.00 per passenger. The company's sales should average $33.00 per passenger. In July, the company provided 50 cruises for a total of 3,100 passengers. Alyeski Tours Flexible Budget For the Month Ended July 31 Revenue Expenses: Fixed Cost per Cost per Month $6,600 $ 2,600 $5,300 $ 3,300 Vessel operating costs Advertising Administrative costs Insurance Total expense Net operating income $ Cruise $ 480.00 $ 33.00 0 0 Cost per Passenger $3.00 $1.50

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.