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 Cost per Month $ 1,200 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Car Washed $ 0.50 $ 0.06 $ 0.30 $ 0.20 $ 4,700 $ 8,000 $ 1,800 $ 1,700 $ 0.04 For example, electricity costs should be $1,200 per month plus $0.06 per car washed. The company actually washed 8,200 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