CASE STUDY USING EXCEL SPREADSHEET You work for Theo WalcottTours Ltd which provide tourists and visitors with ‘experiences’ ofPerth and its surrounds. Your manager is currently investigatingintroducing another product, which are ‘Luxury’ helicopter ridesover beautiful bushland. Each trip would be 50km in total. Yourmanager wants you to use cost-volume-profit analysis in order tohelp assess the plan’s feasibility. She provides you with thefollowing estimated data: Selling price per trip: $600 (total for 3customers – trips only run with 3 customers) Costs: Fuel: $50 pertrip Walcott ‘goodie bag’ per customer: $40 Helicopter rental permonth: $20,000 Insurance per month (unlimited trips): $1,000 Pilotcosts: $5,000 per month plus $100 per trip Maintenance costs aredifficult to estimate but data from a similar company in adifferent location shows that these monthly costs were $11,000 when5,000 kms were flown and $5000 when 1,500 kms were flown. ACCM 4100Management Accounting 1 Trimester 2, 2020: Individual ExcelAssignment REQUIRED: Calculate the following: 1) The Break-evenpoint in trips per month 2) The Break-even point indollars of revenue per month 3) Assuming a profit aftertax requirement from the Helicopter trip business of $120,000 peryear and a tax rate of 30%, calculate: a) Trips required per monthto obtain target profit b) Revenue required per month toobtain target profit Your manager has requested that thespreadsheet is easy to use for ‘What-if’ analysis – so she wouldlike to be able to change some of the inputs to see the impact onthe calculations above – for example, if the Helicopter were ableto be rented more cheaply or the selling price was increased.