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 Cleaning supplies Electricity Maintenance $0.40 $0.10 $0.20 $0.20 $1,100 Wages and salaries Depreciation Rent Administrative expenses $4,800 $8,100 $2,000 $1,700 $0.05 For example, electricity costs are $1,100 per month plus $0.10 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.20 per car washed. Required: Prepare the company's planning budget for August. Required: Prepare the company's planning budget for August. Lavage Rapide Planning Budget For the Month Ended August 31 Budgeted cars washed 8,400 Revenue 52,080 2$ Expenses: 3,360 Cleaning supplies Electricity 1,680 Maintenance Wages and salaries 8,100 2,000 Depreciation Rent Administrative expenses Total expense Net operating income 15,140 24 36,940