Exercise 9-9 (Algo) Planning Budget (L09-1] 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: Fixed Cost per Month Cost per Car Washed $ 0.70 $ 0.08 $ @.20 $ 0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 1,4ee $4,600 $ 8,300 $ 2,000 $1,500 $ 0.02 For example, electricity costs should be $1,400 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.20 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 Net operating income