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 $ 0.70 $ 0.07 $ 0.25 $ 0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 1,200 $4,800 $ 8,300 $ 2,000 $1,600 $ 0.01 For example, electricity costs should be $1,200 per month plus $0.07 per car washed. The company actually washed 8,200 cars in August and collected an average of $6.00 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