Exercise 9-10 Planning Budget [LO9-1] Lavage Rapide is provides data concerning the company's costs: Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table Fixed Cost Cost per ed Ca per Month cleaning supplies Electricity Maintenance S0.80 $1,200 $0.05 $ 0.15 $ 4,300 $ 8,200 $2,200 $ 1,300 Wages and salaries Depreciation 0.30 Rent $ 0.05 Administrative expenses For example, electricity costs are $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 $6.80 per car washed Required: Prepare the company's planning budget for August. Lavage Rapide Planning Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 10 $ 0