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: Fixed Cost per Month cost per Car Washed $1,000 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $0.40 $0.09 $0.20 $0.40 $4,800 $8,200 $2,100 $1,300 $0.01 For example, electricity costs are $1,000 per month plus $0.09 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.20 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