07 Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report [LO9-4) 10 points Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Coat per Month eBook $1,200 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Coot per Car Washed $0.50 $0.05 $0.15 $0.20 Print $4,800 $8,400 $2,100 $1,500 $0.02 References For example, electricity costs should be $1.200 per month plus $0.05 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.70 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 $57,040 Revenue Expenses : Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,600 1,580 1, 470 6,800 8,400 2,300 1,564 26,714 $ 30,326 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for > Administrative expenses Total expense Net operating Income 2,300 1,564 26,714 $ 30,326 TO points eBook Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e.. zero variance). Input all amounts as positive values.) Print Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget ferences Planning Budget Cars washed 8.300 $ 57,040 Activity Variances Revenue and Spending Variances Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,600 1,580 1,470 6,800 8,400 2.300 1,564 26,714 30,326 $