Please help with working 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:Cost per CarFixed Cost perMonthWashedCleaning suppliesElectricityMaintenanceWages and salariesDepreciationRentAdministrativeexpenses$ 1,400$4,500$ 8,000$ 2,000$ 1,400$ 0.60$ 0.07$ 0.15$ 0.20$ 0.03For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.20 per car washed.Required:Prepare the company's planning budget for August.

Planning budget is a budget prepared for planned level of activity. Variable cost = Activity level…

Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Fixed Cost per Month $ 1,400 Cost per Car Washed $ 0.60 $ 0.07 $ 0.15 $ 0.20 $4,500 $ 8,000 Rent $ 2,000 Administrative $ 1,400 expenses For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.20 per car washed. $ 0.03 Required: Prepare the company's planning budget for August.