5 Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report (LO9-4) 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 2 point Fixed Cost per month BOOK Cost per Car wasbed 10.00 50.05 $0.25 $0.40 PE Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses References 54,00 55,300 $1,900 $1,700 50.2 For example, clectricity costs should be 51.200 per month plus 5005 per car washed The company expects to wash 8.200 cars in August and to collect an average of $6.40 per car washed 07 The actual operating results for August are as follows 2 points Lavage Rapide Incon Statement For the Month Ended August 31 Actual cars washed 3,300 554580 bo rences Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Adinistrative expenses Total expense Net operating Income 7.000 1.580 2X200 7,940 0,300 2.100 1,164 $ 23,546 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 " for favorable. "O" for unfavorable, and "None" for no effect eter variance), Input all amounts as positive values:) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Revenue and Flexible Results Spending Variances Budget 8,300 Activity Variances Planning Budget Book Cars washed Paint $ 54.580 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 7,060 1.580 2.290 7.940 8,300 2.100 1.764 31,034 Administrative axpenses Total expense