1. 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 companys costs:

	Fixed Cost per Month			Cost per Car Washed
Cleaning supplies				$	0.60
Electricity	$	1,400		$	0.06
Maintenance				$	0.20
Wages and salaries	$	4,300		$	0.30
Depreciation	$	8,400
Rent	$	2,000
Administrative expenses	$	1,300		$	0.05

For example, electricity costs are $1,400 per month plus $0.06 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 companys planning budget for August.

Lavage Rapide
Planning Budget
For the Month Ended August 31
Revenue
Expenses:
Cleaning supplies
Electricity
Wages and salaries
Depreciation
Rent
Administrative expenses
Total expense
Net operating income