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 $ 0.60 $ 0.08 $ 0.15 $ 0.30 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,300 $ 4,500 $ 8, 200 $ 1,800 $ 1,700 $ 0.03 For example, electricity costs are $1,300 per month plus $0.08 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.90 per car washed. Required: Prepare the company's planning budget for August. Miracle Car Wash Planning Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 0 Total expense Net operating income $ 0