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 Car Washed. Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost per Month $ 0.801 $ 1,200 $ 0.15 $ 0.20 $ 5,000 $ 0.30 $ 6,000 $ 8,000 $ 4,000 $ 0.10 For example, electricity costs are $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. Required: Prepare the company's planning budget for August. Lavage Rapide Planning Budget For the Month Ended August 31 Budgeted cars washed Revenue $ 43,120 Expenses: Cleaning supplies 7,040 Electricity 2,520 Maintenance 1,760 Wages and salaries 7,640 Depreciation 6,000 Rent 8,000 Administrative expenses 4,000 Total expense Net operating income 36,960 $ 6,160