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 $ 0.40

Electricity $ 1,300 $ 0.09

Maintenance $ 0.10

Wages and salaries $ 4,300 $ 0.30

Depreciation $ 8,400

Rent $ 2,200

Administrative expenses $ 1,600 $ 0.01

For example, electricity costs are $1,300 per month plus $0.09 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.60 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 0 Net operating income $ 0