Exercise 9-12 (Algo) Revenue and Spending Variances (LO9-3) 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 10:51 k Pixed cost per cost per Month Car Washed Cleaning supplies $ 0.60 Electricity $ 1,500 $ 0.09 Maintenance $ 0.20 Wages and salaries $ 4,300 $ 0.20 Depreciation $ 8,400 Rent $ 1.900 Administrative expenses $ 1,700 $ 0.01 For example, electricity costs should be $1,500 per month plus $0.09 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.00 per car washed. The actual operating results for August are as follows: ces Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8.500 Revenue $ 52,500 Expenses: Cleaning supplies 5,540 Electricity 2,226 Maintenance 1,920 Wages and salaries 6,340 Depreciation 8,400 Rent 2,100 Administrative expenses 1.684 Total expense 28,210 Net operating income $ 24,290 Required: Calculate the company's revenue and spending variances for August. (Indicate the effe of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Lavage Rapide Revenue and Spending Variances For the Month Ended August 31 Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 Revenue $ 52,500 Expenses Cleaning supplies 5,540 Electricity 2,226 Maintenance 1,920 Wages and salaries 6,340 Depreciation 8,400 Rent 2,100 Administrative expenses 1,684 Total expense 28, 210 Net operating income $ 24,290 Required: Calculate the company's revenue and spending 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 Rapide Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income