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 $ 0.70 $ 0.06 $ 0.30 $ 0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 1,300 $ 4,800 $ 8,100 $2,200 $1,600 $ 0.02 For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.70 per car washed. Required: Prepare the company's planning budget for August. Miracle Car Wash Planning Budget 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