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Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: CleaningsuppliesElectricityMaintenanceWagesandsalariesDepreciationRentAdministrativeexpensesFixedCostperMonth$1,300$0.06$4,300$8,300$2,100$1,500CostperCarWashed$0.80$0.10$0.01 For example,
Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: CleaningsuppliesElectricityMaintenanceWagesandsalariesDepreciationRentAdministrativeexpensesFixedCostperMonth$1,300$0.06$4,300$8,300$2,100$1,500CostperCarWashed$0.80$0.10$0.01 For example, electricity costs should be $1,300 per month plus $0.06 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.80 per car washed. The actual operating results for August are as follows: \begin{tabular}{lr} \multicolumn{2}{c}{LavageRapideIncomeStatement} \\ For the Month Ended August & \\ \hline Actual cars washed & 8,200 \\ Revenue & $57,180 \\ \hline Expenses: & \\ Cleaning supplies & 6,980 \\ Electricity & 1,756 \\ Maintenance & 1,050 \\ Wages and salaries & 7,900 \\ Depreciation & 8,300 \\ Rent & 2,300 \\ Administrative expenses & 1,481 \\ Total expenses & 29,767 \\ Net operating income & $27,413 \\ \hline \hline \end{tabular} Required: Prepare a flexible budget performance report for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values
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