Chec 7 Exercise 9-13 (Algo) 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 estimates concerning the company's costs Fixed Cost Cost per per Month Car Washed Cleaning supplies $0.60 Electricity $1,100 $0.99 Maintenance $0.10 Wages and salaries 50.40 Depreciation $8,400 Rent Administrative expenses $1,800 $0.es ok ances $1,900 For example, electricity costs should be $1,100 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.60 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 $ 56,880 The actual operating results for August are as follows Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,400 Revenue $ 56,850 Expensest Cleaning supplies 5,480 Electricity 1.817 Maintenance 1,070 Wages and salaries 7,780 Depreciation 3,400 Rent 2,100 Adeinistrative expenses 2,115 Total expense 28,762 Net operating income $ 28,113 ces 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 variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input oll amounts os positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget Planning Budget Cars washed 8,400 Revenue $ 56,880 Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expenso Net operating income 5,480 1817 1,070 7.780 8.400 2,100 2.115 28,762 28.118 $