Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report (L09-4) 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 cost per per Marith Car Washed cleaning supplies 50.60 Electricity $1,400 $0.00 maintenance Wages and salaries $4,500 Depreciation 58.100 $1,000 Ndoinistrative expenses 50.02 $0.30 50.20 Rent For example, electricity costs should be $1400 per month plus $0.06 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6 80 per car woshed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed Revenge Expenses: Cleaning Supplies The actual operating results for August are as follows: Lavage Rapide Income statement For the Month Ended August 31 Actual cars washed 8.600 Revenue $ 59,900 Expenses Cleaning supplies 5,600 Electricity 1,850 Maintenance 2,790 Wages and salaries 6.860 Depreciation 3.100 Rent 2.000 Administrative expenses Total expense Het operating income Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (Indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect ie, zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,600 Planning Budget Cars washed $ 59,900 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 5,600 1.880 2.790 6.860 3,100 2000 1,485 28,715 31,185 Total expense Net operating income $