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: Fixed Cost per MonthCar Washed Cost per Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $0.60 $0.05 $0.25 $0.30 $1,400 $4,600 $8,400 $1,800 $1,600 $0.03 For example, electricity costs are $1,400 per month plus $0.05 per car washed. The company expects to wash 8,400 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 8,500 $55,860 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 5,540 1,790 2,340 7,480 8,400 2,000 1,752 Total expense Net operating income $26,558