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: For example, electricity costs should be $1,100 per month plus $0.06 per car washed, The company expects to wash 8,300 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August are as follows: For example, electricity costs should be $1,100 per month plus $0,06 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August are as follows: Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity 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. Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.en, zero variance). Input all amounts as positive values. Problem 9-20 (Algo) Critique a Report; Prepare a Performance Report [LO9-1, L09-2, L09-3, L09-4] TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: After several months of using these reports, the owner has become frustrated. For example, she is quite confident that instructor wages were very tightly controlled in July, but the report shows an unfavorable variance. The planning budget was developed using the following formulas, where q is the number of lessons sold: The planning budget was developed using the following formulas, where q is the number of lessons sold: Required: 2. Complete the flexible budget performance report for the school for July. 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. Required: 2.Complete the flexible budget performance report for the school for July. 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
