Exercise 9-14 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 data concerning the company's costs: 18:03 Fixed Cost per Month $1,200 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.60 $0.06 $0.25 $0.20 nces $4,200 $8,400 $2,100 $1,700 $0.04 For example, electricity costs are $1,200 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. For example, electricity costs are $1,200 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 appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,400 $56,880 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5, 480 1,668 2,315 6,220 8,400 2,300 1,932 28,315 $28,565 IIPUILUTILAINIL wuuy.PLIIVITTIILLILPUIL LIIUL SHUV LIIL LUITpurly SILVLIUL JIU SPLIuliy vui IILLO JUU ULLIVILE VUI UTILLO IVI 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 Flexible Results Budget 8,400 Planning Budget Cars washed Revenue $ 56,880 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,480 1,668 2,315 6,220 8,400 2,300 1,932 28,315 28,565 $