Assignment #8 - Spring 2020 A Saved Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost per Month Coat per Car Washed $ 0.50 $ 0.08 $ 0.15 $ 0.30 $ 1,100 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses points $ 4.800 $ 8.000 $ 1.800 $ 1.600 $ 0.03 eBook For example, electricity costs are $1,100 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.50 per car washed. The actual operating results for August appear below. Print Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,400 $ 56,050 References Revenue Expenses: cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 1,650 1.734 1,485 7.650 8,000 2,000 1.749 27,268 28,782 $ 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 (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,400 Planning Budget Cars washed Revenue | $ 56,050 Expenses: 4,6501 Cleaning supplies Electricity 1,734 Maintenance 1,485 Wages and salaries Depreciation T L Rent | | 7,650 8,000 2,000| 1,749 27,268 28,782 Administrative expenses Total expense Net operating income | $ Assignment #8 - Spring 2020 A Saved Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost per Month Coat per Car Washed $ 0.50 $ 0.08 $ 0.15 $ 0.30 $ 1,100 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses points $ 4.800 $ 8.000 $ 1.800 $ 1.600 $ 0.03 eBook For example, electricity costs are $1,100 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.50 per car washed. The actual operating results for August appear below. Print Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,400 $ 56,050 References Revenue Expenses: cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 1,650 1.734 1,485 7.650 8,000 2,000 1.749 27,268 28,782 $ 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 (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,400 Planning Budget Cars washed Revenue | $ 56,050 Expenses: 4,6501 Cleaning supplies Electricity 1,734 Maintenance 1,485 Wages and salaries Depreciation T L Rent | | 7,650 8,000 2,000| 1,749 27,268 28,782 Administrative expenses Total expense Net operating income | $