Exercise 9-10 (Algo) Flexible Budget (L09-1) 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: Pixed Cost per Month cost per Car Washed $0.50 $0.07 $0.20 $0.20 $1,500 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 54,200 $8,300 $1,800 $1,400 $ 0.02 For example, electricity costs should be $1,500 per month plus $0.07 per car washed. The company actually washed 8,200 cars in August and collected an average of $6.50 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