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: Fixed Cost per Month Cost per Car Washed cleaning supplies Electricity Maintenance Wages and salaries. Depreciation Rent Administrative expenses $ 0.70 $ 1,300 $ 0.06 $ 0.10 $ 4,700 $ 0.30 $ 8,100 $ 2,000 $1,500 $ 0.03 For example, electricity costs should be $1,300 per month plus $0.06 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,400 Revenue $ 56,880 Expenses: Cleaning supplies 6,310 Electricity 1,768 Maintenance 1,070 Wages and salaries i 7,550 Depreciation 8,100 Rent 2,200 Administrative expenses 1,649 Total expense 20,647 Net operating income 28,233 Required: Calculate the company's revenue and spending variances for August. Note: Indicate the effect 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. Required: Calculate the company's revenue and spending variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and " variance). Input all amounts as positive values. Answer is not complete. Lavage Rapide Revenue and Spending Variances For the Month Ended August 31 Revenue F Expenses: Cleaning supplies U Electricity F Maintenance U Wages and salaries U Depreciation None Rent U Administrative expenses F Total expense U Net operating income F