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 companys costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.70 Electricity $ 1,100 $ 0.06 Maintenance $ 0.25 Wages and salaries $ 4,400 $ 0.30 Depreciation $ 8,400 Rent $ 1,900 Administrative expenses $ 1,300 $ 0.03 For example, electricity costs should be $1,100 per month plus $0.06 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.70 per car washed. Required: Prepare the companys 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