Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table...
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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 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost peri Car Washed $ 0.80 $1,400 $ 0.09 $ 0.30 $ 4,200 $ 0.20 $ 8,400 $ 1,900 $1,500 $ 0.04 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.20 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 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expenses Net operating income Required: 8,600 $ 54,800 7,300 2,135 2,790 6,268 8,400 2,100 1,740 30,725 $ 24,075 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. 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. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,600 $ 54,800 Expenses: Cleaning supplies 7,300 Electricity 2,135 Maintenance 2,790 Wages and salaries 6,260 Depreciation 8,400 Rent 2,100 Administrative expenses 1,740 Total expenses 30,725 Net operating income $ 24,075 Flexible Planning Budget Budget) 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 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost peri Car Washed $ 0.80 $1,400 $ 0.09 $ 0.30 $ 4,200 $ 0.20 $ 8,400 $ 1,900 $1,500 $ 0.04 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.20 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 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expenses Net operating income Required: 8,600 $ 54,800 7,300 2,135 2,790 6,268 8,400 2,100 1,740 30,725 $ 24,075 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. 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. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,600 $ 54,800 Expenses: Cleaning supplies 7,300 Electricity 2,135 Maintenance 2,790 Wages and salaries 6,260 Depreciation 8,400 Rent 2,100 Administrative expenses 1,740 Total expenses 30,725 Net operating income $ 24,075 Flexible Planning Budget Budget)
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