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		$ 0.50
Electricity	$ 1,400	$ 0.08
Maintenance		$ 0.30
Wages and salaries	$ 4,800	$ 0.40
Depreciation	$ 8,400
Rent	$ 2,200
Administrative expenses	$ 1,400	$ 0.03

For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $5.90 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 Net operating income