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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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Fixed Cost per Month $ 1,300 $ 4,100 $ 8,100 $ 2,000 $ 1,600 Administrative expenses $ 0.01 For example, electricity costs are $1,300 per month plus $0.05 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.20 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 Cost per Car Washed Administrative expenses Total expense $0.40 $ 0.05 $ 0.15 $ 0.30

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 Fixed Cost per Month $ 1,300 $ 4,100 $ 8,100 $ 2,000 $ 1,600 Administrative expenses $ 0.01 For example, electricity costs are $1,300 per month plus $0.05 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.20 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 Cost per Car Washed Administrative expenses Total expense $0.40 $ 0.05 $ 0.15 $ 0.30

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5 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: nts eBook Hint Print References Cleaning supplies Electricity Maintenance Fixed Cost per Month $ 1,300 Wages and salaries Depreciation Rent Administrative expenses $ 0.01 For example, electricity costs are $1,300 per month plus $0.05 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.20 per car washed. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses Required: Prepare the company's flexible budget for August. Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense $4,100 $ 8,100 $ 2,000 $ 1,600 Cost per Car Washed $ 0.40 ol $ 0.05 $ 0.15 $ 0.30
Transcribed Image Text:5 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: nts eBook Hint Print References Cleaning supplies Electricity Maintenance Fixed Cost per Month $ 1,300 Wages and salaries Depreciation Rent Administrative expenses $ 0.01 For example, electricity costs are $1,300 per month plus $0.05 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.20 per car washed. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses Required: Prepare the company's flexible budget for August. Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense $4,100 $ 8,100 $ 2,000 $ 1,600 Cost per Car Washed $ 0.40 ol $ 0.05 $ 0.15 $ 0.30
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