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 $ 0.80 $ 0.07 $ 0.20 $ 0.40 cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,400 $4,800 $ 8,500 $ 2,100 $1,500 $ 0.05 For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company actually washed 8,400 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 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 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 $ 0.80 $ 0.07 $ 0.20 $ 0.40 cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,400 $4,800 $ 8,500 $ 2,100 $1,500 $ 0.05 For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company actually washed 8,400 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 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income