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 $ 0.70 $ 0.10 $ 0.25 $ 0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 1,100 $ 4,000 $ 8,500 $ 1,800 $ 1,400 $ 0.03 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 $6.30 per car washed. Required: Prepare the company's planning budget for August. Lavage Rapide Planning 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