Check my work 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 Coat cont per Month Car Washed Cleaning upplies $0.50 electricity $1.100 50.00 Maintenance $9.29 Nages and salarise $4.300 $0.20 Depreciation 18.100 Rent $2,100 Administrative expenses $1,400 $0.63 For example, electricity costs should be $1100 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.20 per car washed The actual operating results for August are as follows: Lavage pide Income statement For the Month Ended gut 31 Actual car washed 3,600 Mevenue Expo Cleaning supplies 4.656 Hectricity 1.234 Maintenance 1.900 Wages and salaries 6, 120 Depreciation 3.160 Rent 2.300 Administrative expenses Total expense 25,553 Het operating income 327.00 Proy 5S !!! Next 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 ezero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Revenue and Flexible Results Spending Variances Budget 8.400 Activity Variances Planning Budget Cars washed $ 53.560 $ 52.000 F TU U U Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4.650 1,734 1.900 6320 8,100 2.300 1.549 26,553 27.007 None 0 F $ 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 Coat per Month $1,100 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.50 $0.08 50.20 $0.20 $4,300 58, 100 $2,100 $1,400 $0.03 For example, electricity costs should be $1,100 per month plus $0.08 per car washed. The company expects to wash 8,300 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 8,400 $53,560 Revenue Expenses: Cleaning supplies Electricity Maintenance Nages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,650 1,734 1,900 6,320 8.100 2.300 1,549 26,553 $ 27.007