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Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Quebec. The following table provides data concerning the company's expected costs: Fixed Cost per Month Cost per Car Washed $0.90 0.30 0.50 0.60 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 1,600 4,900 8,500 2,300 2,020 0.07 For example, electricity costs are $1,600 per month plus $0.30 per car washed. The company expects to wash 8,200 cars in October and to collect an average of $6.10 per car washed. Auto Lavage's actual level of activity was 8,300 cars. The actual revenues and expenses for October are given below: Auto Lavage Income Statement For the Month Ended October 31 Actual cars washed 8,300 Sales $54,300 7,800 2,560 3,640 5,250 656 Variable expenses: Cleaning supplies Electricity Maintenance Wages and salaries Administrative Fixed expenses: Electricity Wages and salaries Depreciation Rent Administrative 1,670 4,900 8,500 2,300 1,945 Total expense 39,221 Net operating income $15, 079 Required: 1. Prepare a flexible budget performance report for October. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) AUTO LAVAGE INC. Flexible Budget Performance Report For the Month Ended October 31 Cost Flexible Formula Actual Budget (per car) $ 6.10 $ 54,300 $ 50,630 Flexible Budget Variance $ 3,670F Sales Variable Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Administrative 0.90 0.30 0.50 0.60 0.07 7,800 2,560 3,640 5,250 7,470 2,490 4,150 4,980 582 330 U 700 510F 270 u 75 U 656 Total variable expenses 2 35 U 2.37 3.73 19,906 3 4,394 19,672 30,958 Fixed expenses: Electricity Wages and salaries Depreciation Rent Administrative Total fixed expenses Operating income 1,670 4,900 8,500 2,300 1,945 19,315 15,079 $ 1,600 4,900 8,500 2,300 2,020 19,320 11,638 $ 70 U 0 None O None 0 None 75F 5F 3,440F $ 2. Prepare a comprehensive performance report for October. Assume that the static budget for October was based on an activity level of 8,200 cars. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) AUTO LAVAGE INC. Comprehensive Performance Report For the Month Ended October 31 For the Month Ended October Actual Flexible Budget Variance Flexible Budget Sales Volume Variance Static Budget 8,300 54,000 $ 8,300 $ 50,630 $ 3,670 F $ 6101F 8,200 $ 50,020 Number of cars Sales Variable Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Administrative 7,800 2,560 3,640 5,250 656 330 U 70 U 510F 270 ju 75 U 7,470 2,490 4,150 4.980 581 90U 30 u 50 U 60U 70 7,380 2,460 4,100 4,920 574 235 U 237 u 19,906 34,094 19,671 30,959 19,434 30,586 Total variable expenses Contribution margin Fixed expenses: Electricity Wages and salaries Depreciation Rent Administrative 1,670 4,900 8,500 2,300 1,945 70U 0 None None None 75F 7 1,600 4,900 8,500 2,300 2,020 0 Noner 0 None O None 0 None None 1,600 4.900 8,500 2,300 2,020 Total fixed expenses L 19,315 $ 14,779 $ 5 F 3,440 F 19,320 $ 11,639 $ None 373 F 19,320 $ 11,266