Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

lavage rapide Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates

lavage rapide
image text in transcribed
image text in transcribed
image text in transcribed
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 Ered Cost per Cost per Month Car Washed Cleaning supplies 3 8.50 Electricity $ 1,300 $ 0.05 Haintenance $ 0.20 Hages and salaries $4,600 5.0.40 Depreciation $ 8,400 Rent 11,800 Administrative expenses $1,500 $ 0.00 For example, electricity costs should be $1300 per month plus $0.05 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.60 per car washed For example, electricity costs should be $1,300 per month plus $0.05 per car washed The company expecte to wash 8,400 cars in August and to collect an average of $6,50 per car washed The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual car's washed 3,500 Revenue 3.57.540 Expenses Cleaning supplies 4.700 Electricity 1,690 Haintenance 1.920 Wages and stories 8,320 Depreciation 8,400 Rent 2,000 Adhinistrative expenses 1,730 Total expense 28,766 Net operating income Required: Calculate the company's revenue and spending variances for August (Indicate the effect of each variance by selecting 'F' for favorable, "U" for unfavorable, and "None" for no effect i... zero variance), Input all amounts as positive values.) Required: Calculate the company's revenue and spending variances for August Ondicate the effect of each variance by selecting 'F' for favorable, "U" for unfavorable, and "None" for no effect (ietero variance). Input all amounts as positive values.) Lavage Rapide Revenue and Spending Variance For the faith Ended upust 31 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Runt Administrative expenses Tottense Net operating income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting In A Nutshell Accounting For The Non-specialist

Authors: Walker, Janet

3rd Edition

075068738X, 9780750687386

More Books

Students also viewed these Accounting questions

Question

Timeline for final evaluation

Answered: 1 week ago

Question

How will it be used?

Answered: 1 week ago