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Sorry mate, Apex doesn't score well when it comes to generating reports out of the box - however it does integrate with other options.
BI Publisher - I thought the figure was more like $50k, but I guess it depends on your currency.
Configuration details direct from Oracle
Setting up reports
You can set up Cocoon using Carl's viewlet
If you want to use Cocoon or Apache FOP and you don't have a skilled XSL developer, you can spend a small amount cash for this WYSIWYG editor
There are some PL/SQL alternatives
A popular option that I haven't explored is Jasper
Dietmar Aust loves it
It is also possible to link into Oracle Reports - quite easily actually - but I don't have that link with me.