Exercise 9-13 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 following table provides data concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $0.70 $ 1,200 $0.07 $0.10 $ 4,500 $0.30 $ 8,400 $ 2,000 $1,600 $0.04 For example, electricity costs are $1,200 per month plus $0.07 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.30 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 Revenue $55,020 Expenses: Cleaning supplies 6,380 Electricity 1,758 Maintenance 1,080 Wages and salaries 7,380 Depreciation 8,400 Rent 2,200 Administrative 1,836 expenses Total expense 29,034 Net operating income $25,986 Required: Calculate the company's revenue and spending 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 Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income