Exercise 9-7 (Algo) Planning Budget (LO9-1] 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: Cost per Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost per Month Car Washed $ 0.50 $ 1,200 $ 0.05 $ 0.15 $ 5,000 $ 0.20 $ 8,500 $ 1,800 $ 1,300 $ 0.04 For example, electricity costs are $1,200 per month plus $0.05 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.80 per car washed. Required: Prepare the company's planning budget for August. Lavage Rapide Planning Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense 0 Net operating income $ 0