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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash...

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Accounting

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the companys costs:

Fixed Cost per Month Cost per Car Washed
Cleaning supplies $ 0.80
Electricity $ 1,200 $ 0.06
Maintenance $ 0.15
Wages and salaries $ 4,300 $ 0.40
Depreciation $ 8,000
Rent $ 2,100
Administrative expenses $ 1,400 $ 0.01

For example, electricity costs are $1,200 per month plus $0.06 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.60 per car washed.

Required:

Prepare the companys planning budget for August.

Lavage Rapide
Planning Budget
For the Month Ended August 31
Revenue
Expenses:
Cleaning supplies
Electricity
Maintenance
Wages and salaries
Depreciation
Rent
Administrative expenses
Total expense 0
Net operating income $0

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