Exercise 9-11 (Algo) Activity Variances (LO9-2) 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: Tixed Cont pet Month $1,500 cost per Car Washed 50.00 $0.05 50.25 Cleaning supplies Electricity Maintenance Wayes and walories Depreciation Rent Administrative expenses $4,900 $8,200 $2,000 $1,700 30.04 For example, electricity costs should be $1,500 per month plus $0.05 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $610 per car washed. The company actually washed 8,400 cars in August Required: Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect i.e., zero variance). Input all amounts as positive values.) Required: Calculate the company's activity variances for August (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Lavage Rapido Activity Variances For the Month Ended August 31 Revenue Expenses Cleaning supples Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income