Exercise 9-7 (Algo) Planning Budget [LO9-1] 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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per Car per Month Washed $ 0.60 $ 1,200 $ 0.05 $ 0.25 $ 4,700 $ 0.40 $ 8,500 $ 2,100 $ 1,600 $ 0.01 For example, electricity costs are $1,200 per month plus $0.05 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.80 per car washed. Required: Prepare the company's 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 Net operating income 0 $ 0

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Exercise 9-7 (Algo) Planning Budget [LO9-1]
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:
Cleaning supplies
Electricity
Maintenance
Wages and salaries
Depreciation
Rent
Administrative expenses
Fixed Cost Cost per Car
per Month
Washed
$ 0.60
$ 1,200
$ 0.05
$ 0.25
$ 4,700
$ 0.40
$ 8,500
$ 2,100
$ 1,600
$ 0.01
For example, electricity costs are $1,200 per month plus $0.05 per car washed. The company expects to wash 8,100 cars in August
and to collect an average of $6.80 per car washed.
Required:
Prepare the company's 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
Net operating income
0
$
0
Transcribed Image Text:Exercise 9-7 (Algo) Planning Budget [LO9-1] 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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per Car per Month Washed $ 0.60 $ 1,200 $ 0.05 $ 0.25 $ 4,700 $ 0.40 $ 8,500 $ 2,100 $ 1,600 $ 0.01 For example, electricity costs are $1,200 per month plus $0.05 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.80 per car washed. Required: Prepare the company's 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 Net operating income 0 $ 0
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