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: Cleaning supplies Electricity Maintenance Fixed Cost per Month Cost per Car Washed $0.50 $ 0.10 $0.15 $1,400 Depreciation $ 4,300 $8.200 $1,900 $ 0.30 Administrative expenses $1,500 $0.02 Wages and salaries Rent For example, electricity costs should be $1,400 per month plus $0.10 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.70 per car washed. For example, electricity costs should be $1,400 per month plus $0.10 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.70 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 11 Actual cars washed Revenue xpenses: Cleaning supplies Electricity Maintenance Wages and salaries. Depreciation Rent Administrative expenses Total expense Net operating income 8,200 $ 56,370 4,550 2,180 1,455 7,090 8,200 2,100 1,562 27,137 $ 29,233 Cars washed Revenue For the Month Ended August 31 Actual Flexible Planning Results Budget Budget 8,200 $ 56,370 Expenses: Cleaning supplies 4,550 Electricity 2,180 Maintenance 1,455 Wages and salaries 7,090 Depreciation 8,200 Rent 2,100 Administrative expenses 1,562 Total expense 27,137 Net operating income $ 29,233