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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

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
Cleaning supplies $ 0.70
Electricity $ 1,300 $ 0.07
Maintenance $ 0.15
Wages and salaries $ 4,400 $ 0.30
Depreciation $ 8,200
Rent $ 1,900
Administrative expenses $ 1,400 $ 0.04

For example, electricity costs are $1,300 per month plus $0.07 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 companys planning budget for August.

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