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U" for unfavourable, and "None" for no effect (I.e., zero variance).) AUTO LAVAGE INC. Comprehensive Performance Report For the Month Ended October 31 Actual Flexible Budget Variance Flexible Sales Volume Static Budget Variance Budget Number of cars 10,000 10,000 9,901 Sales 79,900 1,900 F $ 78,000 $ 780 F $ 77,22 Variable Expenses Cleaning supplies 9,850 850 U 9,000 90 U 8,91 Electricity 3,082 82 U 3,000 30 U 2,971 Maintenance 4,525 (475) F 5,000 50 U 4,951 Wages and salaries 6,250 250 U 6,000 60 U 5,94 Administrative 790 90 U 700 7 U 59: Total variable expenses 24,497 797 U 23,700 237 U 23.46: Contribution margin 55,403 1, 103 F 54,300 543 F 53.75 Fixed expenses Electricity 3.540 90 3.450 None 3,451 Wages and salaries 6,600 None 6,600 None 6.601 Depreciation 10,200 None 10,200 None 10.201 Rent 4,000 None 4,000 None 4,001 Administrative 3,645 (95) F 3,740 None 3,74 al fixed expenses 27,985 (95) F 27,990 None 27,991 $ 27,418 $ 1, 198 F $ 26,310 $ 543 F 25,76Exercise 9-9 Flexible Budget Performance Report [LO3, LO4] Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Quebec. The following table provides data concerning the company's expected costs: Fixed Cost Cost per per Month Car Washed Cleaning supplies $0. 90 Electricity $ 3, 450 0. 30 Maintenance 0. 50 Wages and salaries 6, 600 0. 60 Depreciation 10, 200 Rent 4, 000 Administrative expenses 3, 740 0. 07 For example, electricity costs are $3,450 per month plus $0.30 per car washed. The company expects to wash 9,900 cars In October and to collect an average of $7.80 per car washed. Auto Lavage's actual level of activity was 10,000 cars. The actual revenues and expenses for October are given below: Auto Lavage Income Statement For the Month Ended October 31 Actual cars washed 10, 000 Sales $ 79, 900 Variable expenses. Cleaning supplies 9, 850 Electricity 3, 082 Maintenance 4, 525 Wages and salaries 6, 250 Administrative 790 Fixed expenses: Electricity 3, 540 Wages and salaries 6, 600 Depreciation 10, 200 Rent 4, 000 Administrative 3, 645 Total expense 52, 482 Net operating income $27, 418 Required: 1. Prepare a flexible budget performance report for October. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (1.e., zero variance).)Required: 1. Prepare a flexible budget performance report for October. (Indicate the effect of each varlance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (1.e., zero variance).) AUTO LAVAGE INC. Flexible Budget Performance Report For the Month Ended October 31 Cost Formula Flexible Flexible Budget (per car) Actual Budget Variance Sales $ 7.90 $ 79,900 $ 78,000 $ 1,900 F Variable Expenses: Cleaning supplies 0.90 9,850 9,000 850) U Electricity 0.30 3,082 3,000 (82) U Maintenance 0.50 4,525 5,000 475 F Wages and salaries 0.60 6,250 6,000 250) U Administrative 0.07 790 700 (90) U Total variable expenses 2.37 24,497 23,700 (797) U Contribution margin 5.53 55,403 54,300 1, 103 F Fixed expenses: Electricity 3.540 3.450 (90) U Wages and salaries 6,600 6,600 None Depreciation 10,200 10,200 None Rent 4,000 4,000 None Administrative 3,645 3,740 95 F Total fixed expenses 27,985 27,990 5 F Operating income 27,418 $ 26,310 $ 1,108 F