Exercise 9-10 Planning 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 data concerning the companys costs:

For example, electricity costs are $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed.

Required:

Prepare the companys planning budget for August.

Help Me correct my mistakes please.

Fixed Cost per Month Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $ 0.80 $ 0.15 $ 0.20 $ 0.30 $ 1,200 $ 5,000 $ 6,000 $ 8,000 $ 4,000 $0.10