Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tableprovides data concerning the company's costs:Cleaning suppliesElectricityMaintenanceWages and salariesDepreciationRentAdministrative expensesFixed Costper MonthCost perCar Washed$ 0.60$ 1,100$ 0.07$ 0.20$ 4,200$ 0.30$ 8,200$ 1,900$ 1,400$ 0.04For example, electricity costs are $1,100 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in Augustand to collect an average of $6.00 per car washed.Required:Prepare the company's planning budget for August.C

Step 1: Step 2: Step 3: Step 4:

Answered: Lavage Rapide is a Canadian company…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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 per Month Cost per Car Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation $ 0. 70 $ 0.08 $ 0.20 $ 0.30 $ 1,400 $ 4,300 $ 8,300 $ 1,800 $ 1,500 Rent Administrative expenses $ 0.02 For example, electricity costs should be $1,400 per month plus $0.08 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.10 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
am. 112.
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 per Month Cost per Car Washed Cleaning supplies $ 0.70 Electricity $ 1,100 $ 0.08 Maintenance $ 0.25 Wages and salaries $ 4,200 $ 0.30 Depreciation $ 8,400 Rent $ 2,100 Administrative expenses $ 1,500 $ 0.01 For example, electricity costs should be $1,100 per month plus $0.08 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.90 per car washed. The company actually washed 8,600 cars in August. Required: Calculate the company's activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.
This is the second time posting the same question. please read carfully and solve in correctly! thank you.
please answer both parts in excel with formula
Lavage Rapide is a Canadlan company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost Cost per Car Washed $ 0.40 $ 0.10 $ 0.10 $ 0. 20 per Month Cleaning supplies Electricity Maintenance $ 1,e00 $ 4,100 $ 8,100 $ 2, 200 $ 1,300 Wages and salaries Depreciation Rent Administrative expenses $ 0.04 For example, electricity costs are $1,000 per month plus $0.10 per car washed. The company expects to wash 8,500 cars In August and to collect an average of $6.30 per car washed. Requlred: 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
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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $ 0.70 $ 1,200 $ 0.07 $ 0.15 $ 4,900 $ 0.40 $ 8,000 $ 2,000 $ 1,400 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.10 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,300 $ 52,120 6,240 1,744 1,470 8,540 8,000 2,200 1,464 29,658 $ 22,462 Calculate the company's revenue and…
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 $ 0.50 $ 1,500 $ 0.07 $ 0.20 $ 4,100 $ 0.30 $ 8,400 $ 2,000 $ 1,700 $ 0.03 For example, electricity costs are $1,500 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.70 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,600 $ 59,050 4,750 2,065 1,940 7,010 8,400 2,200 1,855 28,220 $ 30,830 Calculate the company's revenue and spending…
This is the second time posting the same question. please read carfully and solve in correctly! thank you.
k ces 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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent Fixed Cost per Month $ 1,100 $ 4,200 $ 8,300 $ 2,200 $ 1,700 Cost per Car Washed $ 0.60 $ 0.08 $0.15 $ 0.20 $ 0.02 For example, electricity costs should be $1,100 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.50 per car washed. The company actually washed 8,400 cars in August. Required: Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
2. a) A company manufactures and retails tablet computers. You are required to group the costs which are listed below and numbered (1)-(10) into the following classifications i-v (each cost is intended to belong to only one classification): 1- Wiring for the tablet 2-The maintenance contract from the machines 3- Aftersales customer service 4- The Chief Executive Salary 5- Shipping costs from the warehouse to the retailer 6- Marketing Costs 7- Interest on bank overdraft 8- Staff Training costs 9- Electricity to run the production line 10- Warehouse storage rent for the tablets. i. ii. iii. iv. V. Direct materials 1 Indirect production overhead 2 Selling and distribution costs Administration costs Finance costs
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 per Month Cost per Car Washed Cleaning supplies $ 0.40 Electricity $ 1,000 $ 0.06 Maintenance $ 0.20 Wages and salaries $ 4,200 $ 0.30 Depreciation $ 8,300 Rent $ 2,200 Administrative expenses $ 1,500 $ 0.04 For example, electricity costs should be $1,000 per month plus $0.06 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.00 per car washed. Required: Prepare the company’s planning budget for August.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS