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Fill In the rest of the blanks. 4. value: 4.00 points Lavage Rapide is a Canadian company that owns and operates a large automatic carwash
Fill In the rest of the blanks.
4. value: 4.00 points Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data 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 S 0.80 $ 0.00 $ 0.25 $ 0.40 $ 4,300 $ 8.100 $ 2.200 $ 1.400 $ 0.01 For example, electricity costs are $1,100 per month plus $0.09 per car washed. The company expects to wash 8,200 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 8.300 Revenue $56.220 Expenses: Cleaning supplies 7.060 Electricity 1.808 Maintenance 2.290 Wages and salaries 7.940 Depreciation 8.100 Rent 2.400 Administrative expenses 1.382 Total expense 30.980 Net operating income $25.240 Required: Complete the flexible budget performance report that shows the company's activity variances and revenue and spending variances for 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 Revenue and Spending Variances $ 1.440 F Activity Variances Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries 420 U 39F 2150 320 V None 200 u 101F Depreciation Rent Administrative expenses Total expense Net operating income FStep by Step Solution
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