Exercise 9-14 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 data concerning the company's costs: points Fixed Cost per Month Cost per Car Washed se.70 $0.98 se. 15 eBook $1,180 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $e.30 $4,888 $8,200 $2,000 Print $1.500 se.01 References 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 $6.40 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,400 $ 55,228 6,310 1,734 1.485 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 7.650 8.200 2,200 1.483 29,662 26.158 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.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 $ 55, 220 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income tie income 6.3101 1,734 1.485 7,650 8.200 2.200 1.483 29,082 20.158 | $