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 tobie provides estimates concerning the company's costs Fixed Cost per month $1,200 cleaning supplies Electricity Maintenance wages and salaries Depreciation Administrative expenses cost per Car Washed 50.70 50.98 0.10 $0.10 Rent $4,900 $11,000 $2,000 $1,400 $0.00 For example, electricity costs should be $1.200 per month plus $0.08 per car washed The company expects to wash 8.200 cars in August and to collect an average of $6,50 per car washed The actual operating results for August are as follows: Lavage Rapide For the Month Ended August 31 Actual cars washed Income Statement R. Revenue Expenses Cleaning supplies 6,240 ine actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 Revenue $ 55,400 Expenses: Cleaning supplies 6,240 Electricity 1,826 Maintenance 2,700 wages and salaries 7,720 Depreciation 8,000 Rent 2,200 Administrative expenses 1,628 Total expense 30,314 Net operating income $ 25,086 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 Calculate the company's revenue and spending variances for August. (Indicate the effect of each favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts es 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