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Exercise 9-8 (Algo) Flexible Budget (LO9-1] 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 Cost per Car per Month Washed Cleaning supplies $ 0.80 Electricity $ 1,200 $ 0.07 Maintenance $ 0.20 Wages and salaries $ 4,500 $ 0.20 Depreciation $ 8,500 Rent $ 2,100 Administrative expenses $ 1,500 $ 0.04 For example, electricity costs are $1,200 per month plus $0.07 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.10 per car washed. Required: Prepare the company's flexible budget for August. Lavage Rapide Flexible 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