Please do not give solution in image format thanku Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tableprovides estimates concerning the company's costs:Cleaning suppliesElectricityMaintenanceWages and salariesDepreciationAdministrative expensesRentActual cars washedRevenueExpenses:Lavage RapideIncome StatementFor the Month Ended August 31Cleaning suppliesElectricityMaintenanceFor example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company expects to wash 8,500 cars inAugust and to collect an average of $6.20 per car washed.The actual operating results for August are as follows:Wages and salariesDepreciationRentFixedCost perMonth$ 1,400$ 4,700$ 8,200$ 2,000$ 1,400Administrative expensesTotal expenseNet operating incomeCost perCar Washed8,600$ 54,800$ 0.80$ 0.07$ 0.15$ 0.207,3001,9651,5156,7608,2002,2001,47029,410$ 25,390$ 0.02 Required:Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances forAugust. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.)Cars washedRevenueExpenses:Cleaning suppliesElectricityMaintenanceWages and salariesDepreciationRentAdministrative expensesTotal expenseNet operating incomeActualResults$Lavage RapideFlexible Budget Performance ReportFor the Month Ended August 31$8,60054,8007,3001,9651,5156,7608,2002,2001,47029,41025,390FlexibleBudgetPlanningBudget

Flexible Budget Performance Report: The actual outcomes for a period are compared to the budgeted…

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tabl provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries. Depreciation Administrative expenses Rent Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.20 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Wages and salaries. Depreciation Rent Fixed Cost per Month $ 1,400 Administrative expenses Total expense Net operating income $ 4,700 $ 8,200 $ 2,000 $1,400 Cost per Car Washed $ 0.80 $ 0.07 $ 0.15 $ 0.20 8,600 $ 54,800 7,300 1,965 1,515 6,760 8,200 $ 0.02 2,200 1,470 29,410 $ 25,390

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tabl provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries. Depreciation Administrative expenses Rent Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.20 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Wages and salaries. Depreciation Rent Fixed Cost per Month $ 1,400 Administrative expenses Total expense Net operating income $ 4,700 $ 8,200 $ 2,000 $1,400 Cost per Car Washed $ 0.80 $ 0.07 $ 0.15 $ 0.20 8,600 $ 54,800 7,300 1,965 1,515 6,760 8,200 $ 0.02 2,200 1,470 29,410 $ 25,390

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 2E: Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on...

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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 company’s costs: Fixed Costper Month Cost perCar Washed Cleaning supplies $ 0.70 Electricity $ 1,200 $ 0.09 Maintenance $ 0.25 Wages and salaries $ 4,700 $ 0.30 Depreciation $ 8,300 Rent $ 2,200 Administrative expenses $ 1,800 $ 0.03 For example, electricity costs are $1,200 per month plus $0.09 per car washed. The company actually washed 8,300 cars in August and collected an average of $6.80 per car washed. Required: Prepare the company’s flexible budget for August.
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 company’s costs: Fixed Costper Month Cost perCar Washed Cleaning supplies $ 0.50 Electricity $ 1,100 $ 0.06 Maintenance $ 0.25 Wages and salaries $ 4,700 $ 0.20 Depreciation $ 8,000 Rent $ 2,000 Administrative expenses $ 1,400 $ 0.03 For example, electricity costs are $1,100 per month plus $0.06 per car washed. The company actually washed 8,500 cars in August and collected an average of $6.00 per car washed. Required: Prepare the company’s flexible budget for August. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income
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