Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report [LO9-4) 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 per Month $1,300 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed 50.60 50.02 $0.30 $0.30 $4,100 58,200 $2,100 $1,700 se. For example, electricity costs should be $1,300 per month plus $0.07 per car washed. The company expects to wash 8,300 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 Income Statement For the Month Ended August 31 Actual car washed 1,400 3.56.050 Revue Expenses Cleaning supplies 5,450 For example, electricity costs should be $1,300 per month plus $0.07 per car washed. The company expects to wash 8,300 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 Income Statement For the Month Ended August 31 Actual cars washed 8,400 556.050 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,480 1,851 2,70 7,650 3,200 2,300 1.912 30.14 $ 25,907 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 (le, tero varionce). Input all amounts as positive values.) Lavage Rapide Flexible. Budet Performance Report 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 (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Results Flexible Budget Planning Budget Cars washed 8,400 $ 56,050 Revenue Expenses Cleaning supplies Electricity Maintenance Wapes and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,480 1.851 2,730 7,650 8.200 2,300 1,932 30,143 25 907 $