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: Fixed Cost per Month $1,100 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.50 $ 0.07 $ 0.30 $0.40 $4,100 $ 3,200 $ 2,000 $1,400 $ 0.02 For example, electricity costs should be $1,100 per month plus $0.07 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.60 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 0 0 $