Exercise 9-10 (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 estimates concerning the company's costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.40 Electricity $ 1,500 $ 0.08 Maintenance $ 0.20 Wages and salaries $ 4,400 $ 0.30 Depreciation $ 8,300 Rent $ 2,100 Administrative expenses $ 1,800 $ 0.03 For example, electricity costs should be $1,500 per month plus $0.08 per car washed. The company actually washed 8,300 cars in August and collected an average of $6.20 per car washed. Required: Prepare the company's flexible budget for August. Administrative expenses $ 1,800 $ 0.03 For example, electricity costs should be $1,500 per month plus $0.08 per car washed. The company actually washed 8,300 cars in August and collected an average of $6.20 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