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 $ 0.80 Electricity $ 1,000 $ 0.10 Maintenance $ 0.30 Wages and salaries $ 4,800 $ 0.40 Depreciation $ 8,500 Rent $ 2,000 Administrative expenses $ 1,400 $ 0.05 For example, electricity costs should be $1,000 per month plus $0.10 per car washed. The company actually washed 8,300 cars in August and collected an average of $6.30 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 0 Net operating income $