Exercise $9-13($Algo$)$ Prepare a Flexible Budget Performance Report $[$LO$9-4]$

Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company$$s costs:

Fixed Cost per Month Cost per Car Washed

Cleaning supplies $ $0\mathrm{.}70$

Electricity $ $1,400$ $ $0\mathrm{.}09$

Maintenance $ $0\mathrm{.}30$

Wages and salaries $ $4,300$ $ $0\mathrm{.}20$

Depreciation $ $8,400$

Rent $ $1,900$

Administrative expenses $ $1,800$ $ $0\mathrm{.}03$

For example, electricity costs should be $$1,400$ per month plus $$0\mathrm{.}09$ per car washed. The company expects to wash $8,200$ cars in August and to collect an average of $$6\mathrm{.}60$ 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 $8,300$

Revenue $ $56,220$

Expenses:

Cleaning supplies $6,240$

Electricity $2,108$

Maintenance $2,700$

Wages and salaries $6,300$

Depreciation $8,400$

Rent $2,100$

Administrative expenses $1,946$

Total expenses $29,794$

Net operating income $ $26,426$

Required:

Prepare a flexible budget performance report for August.

Note: 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.$\backslash$table$[[$Lavage Rapide$],[$Flexible Budget Performance Report$],[$For the Month Ended August $31],[,\backslash$table$[[$Actual$],[$Results$]],\backslash$table$[[$Revenue and$],[$Spending Variances$]],\backslash$table$[[$Flexible$],[$Budget$]],$Activity Variances,v$,\backslash$table$[[$Planning$],[$Budget$]]],[$Cars washed,,$8,300,,,],[$Revenue$,$$$,56,220,,,,,],[$Expenses:$],[$Cleaning supplies,,$6,240,,,,,],[$Electricity$,,2,108,,,,,],[$Maintenance$,,2,700,,,,,],[$Wages and salaries,,$6,300,,,,,],[$Depreciation$,,8,400,,,,,],[$Rent$,,2,100,,,,,],[$Administrative expenses,,$1,946,,,,,],[$Total expenses,,$29,794,,,,,],[$Net operating income,$$,26,426,,,,,]]$