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 followin table provides estimates concerning the company's costs: For example, electricity costs should be $1,400 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.30 per car washed. \begin{tabular}{|l|l|} \hline \multicolumn{3}{|c|}{ Lavage Rapide } \\ \hline \multicolumn{2}{|c|}{ Revenue and Spending Variances } \\ \hline Revenue & \\ \hline Expenses: & \\ \hline Cleaning supplies & \\ \hline Electricity & \\ \hline Maintenance & \\ \hline Wages and salaries & \\ \hline Depreciation & \\ \hline Rent & \\ \hline Administrative expenses & \\ \hline Total expense & \\ \hline Net operating income \\ \hline \end{tabular} The actual operating results for August are as follows: 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 (i.e., zero variance). Input all amounts as positive values. 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 followin table provides estimates concerning the company's costs: For example, electricity costs should be $1,400 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.30 per car washed. \begin{tabular}{|l|l|} \hline \multicolumn{3}{|c|}{ Lavage Rapide } \\ \hline \multicolumn{2}{|c|}{ Revenue and Spending Variances } \\ \hline Revenue & \\ \hline Expenses: & \\ \hline Cleaning supplies & \\ \hline Electricity & \\ \hline Maintenance & \\ \hline Wages and salaries & \\ \hline Depreciation & \\ \hline Rent & \\ \hline Administrative expenses & \\ \hline Total expense & \\ \hline Net operating income \\ \hline \end{tabular} The actual operating results for August are as follows: 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 (i.e., zero variance). Input all amounts as positive values