Exercise 9-9 (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 estimates concerning the company's costs: Cost per Car Washed Fixed Cost per Month Cleaning supplies $ 0.80 Electricity $ 1,300 $ 0.08 Maintenance $ 0.20 Wages and salaries $ 4,700 $ 0.40 Depreciation $ 8,300 Rent Administrative expenses $ 2,000 $1,500 $ 0.02 For example, electricity costs should be $1,300 per month plus $0.08 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.10 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