MGR Chap 9 Homework i 3 Saved 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: 10 Cleaning supplies points eBook Print Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses References Fixed Cost per Month Cost per Car Washed $ 0.70 $ 1,400 $ 0.08 $ 0.25 $ 4,400 $ 0.30 $ 8,000 $ 2,200 $ 1,500 $ 0.03 For example, electricity costs should be $1,400 per month plus $0.08 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.90 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement 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 8,200 $ 57,990 6,170 2,018 2,265 7,190 8,000 2,400 1,643 29,686 $ 28,304 Help Save & Exit Submit Check my work MGR Chap 9 Homework i 10 3 points eBook Print References Required: Saved Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances 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. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Results Revenue and Spending Variances Flexible Budget Planning Activity Variances Budget 8,200 8,200 8,100 $ 57,990 Cars washed Revenue Expenses: Cleaning supplies 6,170 Electricity 2,018 Maintenance 2,265 Wages and salaries 7,190 Depreciation 8,000 Rent 2,400 Administrative expenses 1,643 Total expense 29,686 Net operating income $ 28,304