Miracle Car Wash located in Nashville, Tennessee has been providing interior and exterior car washes since 1960. Provided below is information regarding Miracle's costs: Fixed Cost per Month Cost per Car Washed $1,100 cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $0.50 $ 0.06 $ 0.25 $ 0.30 $4,300 $8,000 $1,900 $1,700 $ 0.04 For example, electricity costs are $1,100 per month plus $0.06 per car washed. The company actually washed 8,400 cars in August and collected an average of $5.90 per car washed. Required: Prepare the company's flexible budget for August. Miracle Car Wash Flexible 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