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 Cleaning supplies $ 0.70 Electricity $ 1,200 $ 0.10 Maintenance $ 0.20 Wages and salaries $ 4,300 $ 0.30 Depreciation $ 8,200 Rent $ 2,100 Administrative expenses $ 1,400 $ 0.03 For example, electricity costs should be $1,200 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.10 per car washed. Required: Prepare the company's planning budget for August. Answer is complete but not entirely correct. Lavage Rapide Planning Budget For the Month Ended August 31 Actual cars washed Revenue 8,300 $ 49,800 Expenses: Cleaning supplies 5,810 Electricity 1,781 x Maintenance 1,660 Wages and salaries 6,160 Depreciation 8,400 Rent 1,900 Administrative expenses 1,766 x Total expense Net operating income 27,477 $ 22,323