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: Electricity Cleaning supplies Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost per Month $ 1,300 Cost per Car Washed $0.50 $ 0.08 $ 4,500 $ 8,500 $ 2,000 $1,300 $ 0.20 $ 0.20 $ 0.03 For example, electricity costs should be $1,300 per month plus $0.08 per car washed. The company actually washed 8,200 cars in August and collected an average of $6.80 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