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 Coat Cont per per Month Car Washed Cleaning wuppies $0.70 Electricity $1,400 30.09 Maintenance $0.15 Wages and salaries $4,500 $0.30 Depreciation 58,400 Rent $2,000 Administrative expenses $1,300 50.02 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August are as follows: Lavage Wapide Income Statement For the Month ndod August 31 Actual cars vanhed 3.500 Revenue 152.540 Expense Cleaning supplies 5.380 Electricity 2.126 Maintenance 1,500 Wagon and waarin 300 Depreciation 8.400 Rent 2,200 Administrative expen 1360 Total expense 20.154 Net operating income 52,186 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 (1.o., 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 sataries Depreciation Rent Administrative expenses Total expense Net operating income