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 Cost per Car per Washed Month Cleaning supplies $ 0.60 Electricity $ $ 0.07 1,500 Maintenance $ 0.20 Wages and salaries $ $ 0.30 4,200 $ Depreciation 8,300 $ Rent 2,000 $ $ 0.01 1,400 Administrative expenses For example, electricity costs should be $1,500 per month plus $0.07 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.00 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 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 8,000 Total expense 0 Net operating income $ 8,000 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 Cost per Car per Washed Month Cleaning supplies $ 0.60 $ Electricity $ 0.08 1,100 Maintenance $ 0.20 $ Wages and salaries $ 0.30 4,300 $ Depreciation 8,300 $ 1,900 $ $ 0.03 Rent Administrative expenses 1,500 For example, electricity costs should be $1,100 per month plus $0.08 per car washed. The company actually washed 8,200 cars in August and collected an average of $6.30 per car washed. Required: Prepare the company's flexible budget for August. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative Total expense expenses Net operating income $ 0 0