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 Fixed Cost Cost per per Month Car Washed Cleaning supplies $8.50 Electricity $ 1,500 $2.07 Maintenance $ 0.10 Wages and salaries $4,200 50.30 Depreciation $ 8,500 Rent $ 2,200 Administrative expenses $1,600 $ 0.05 For example, electricity costs should be $1,500 per month plus $0.07 per car washed. The company expects to wash 8,400 cars in August and to collect an average of 55.90 per car washed. The actual operating results for August are as follows Lavage Rapide Income Statement For the Month Ended August 31 Actual cars wasbed 8,500 Revenue 5.51,660 Expenses Cleaning supplies 5.540 Electricity 2,058 Maintenance 1,080 Wages and salaries 7,080 Depreciation 8,500 Rent 2,400 Administrative expenses 1.920 Total expense 28528 Net operating income $ 23,082 Emock Chaptex C Lavage Rapide Is A Canadian Cox G Prepare a flexible budget perform Bercise 9.14 Prep oztomheducation.com/ext/map/index.html?con=con external browser=0&launchtl=https%253A%252F252Fnie Chapter 9 Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal The Soliciwmg table provides estimates concerning the company scos Wixed cost cost per per Month Carest Cleaning up $. Electricity $1.500 5. Maintenance 5. Wages and salaries 5.4.200 5.3. Depreciation $ 8,500 Rent $ 2,200 Administrative S $ 1.600 For example, electricity costs showed be S1.500 per mont plus 50:07 per. car wained the company expects to wazn 8,400 cars in August and to collect an average of 55.90 per car washed The actual operating results for August are as follows Lava Rapide Income Street for the Month Ended August Actual cars washed 8.500 Revenue Expenses Cleaning supplies 5. Electricity 2,050 Maintenance Wages and salarles 7.00 Depreciation Rent Administrative expenses Total expense 2017 Het operating into Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August (indicate the effect of each variance by selecting for favorable. "U" for unfavorable, and "None" for no effect (Le.zero variance). Input all amounts as positive values.) 3.000 Lavage Rapide Flexible Budget Performance Report For the Month Under August Act Results Revenue and Spending Variances Flexible Budget Activity Variances Planning Rudget Cars washed Revenue 6.500 51.600 $ Pex 4 of 5 -re to search ORI