Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the companys costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.70 Electricity $ 1,400 $ 0.09 Maintenance $ 0.15 Wages and salaries $ 4,300 $ 0.40 Depreciation $ 8,400 Rent $ 1,800 Administrative expenses $ 1,800 $ 0.03 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.10 per car washed. Required: Prepare the companys planning budget for August.

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per Month $ 1,400 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $ 0.70 $ 0.09 $ 0.15 $ 0.40 $ 4,300 $ 8,400 $ 1,800 $ 1,800 $ 0.03 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.10 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 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 0 $ 0