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Exercise 9-12(Algo) Revenue and Spending Variances [L09-3] Lavage Rapide is a Canadian company that...

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Accounting

Exercise 9-12(Algo) Revenue and Spending Variances [L09-3]
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table
provides estimates concerning the company's costs:
For example, electricity costs should be $1,000 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in
August and to collect an average of $6.10 per car washed.
The actual operating results for August are as follows:
Required:
Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Answer is complete but not entirely correct.
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