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 company's costs: Fixed Cost per Month $ 1,400 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $ 0.50 $ 0.07 $ 0.15 $ 0.30 $ 4,700 $ 8,200 $ 2,100 $ 1,400 $ 0.02 For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.70 per car washed. Required: Prepare the company's planning budget for August. For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.70 per car washed. Required: Prepare the company's planning budget for August X Answer is complete but not entirely correct. Lavage Rapide Planning Budget For the Month Ended August 31 Budgeted cars washed 8,200 $ 54,940 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income (4 100) (1,400) (1,230) (4,700) (8,200) (2,100) (1,400) (23,130) 31,810 $