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 suppliesElectricityMaintenanceRentWages and salariesDepreciationAdministrative expenses$ 0.10For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars inAugust and to collect an average of $4.90 per car washed. The company actually washed 8,800 cars in August.RevenueExpenses:Required:Calculate the company's activity variances for August. (Indicate the effect of each varlance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.)Cleaning suppliesElectricityMaintenanceFixed Cost Cost perper MonthCar Washed.$ 1,200$ 5,000$ 6,000$ 8,000$ 4,000Lavage RapideActivity VariancesFor the Month Ended August 31Wages and salariesDepreciationRent$ 0.80$ 0.15Administrative expensesTotal expenseNet operating income$ 0.20$ 0.30

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 $ 0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The company actually washed 8,800 cars in August. Revenue Expenses: Fixed Cost Cost per per Month Car Washed $ 0.80 $ 0.15 $ 0.20 $ 0.30 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 (1.e., zero variance). Input all amounts as positive values.) $ 1,200 $ 5,000 $ 6,000 $ 8,000 $ 4,000 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Lavage Rapide Activity Variances For the Month Ended August 31 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 $ 0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The company actually washed 8,800 cars in August. Revenue Expenses: Fixed Cost Cost per per Month Car Washed $ 0.80 $ 0.15 $ 0.20 $ 0.30 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 (1.e., zero variance). Input all amounts as positive values.) $ 1,200 $ 5,000 $ 6,000 $ 8,000 $ 4,000 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Lavage Rapide Activity Variances For the Month Ended August 31 Administrative expenses Total expense Net operating income

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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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.
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 Costper Month Cost perCar Washed Cleaning supplies $ 0.80 Electricity $ 1,200 $ 0.15 Maintenance $ 0.20 Wages and salaries $ 5,000 $ 0.30 Depreciation $ 6,000 Rent $ 8,000 Administrative expenses $ 4,000 $ 0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 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 8,800 Revenue $ 43,080 Expenses: Cleaning supplies 7,560 Electricity 2,670 Maintenance 2,260 Wages and salaries 8,500 Depreciation 6,000 Rent 8,000…
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…
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 Administrative expenses Rent For example, electricity costs are $1,200 per month plus $0.09 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.50 per car washed. Required: Prepare the company's flexible budget for August. Lavage Rapide Flexible Budget For the Month Ended August 31 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Fixed Cost per Month $ 1,200 $ 4,400 $ 8,000 $ 1,800 $ 1,600 Wages and salaries Depreciation Rent Cost per Car Washed $ 0.50 $ 0.09 $ 0.20 $ 0.20 Administrative expenses $ 0.04
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 Costper Month Cost perCar Washed Cleaning supplies $ 0.80 Electricity $ 1,200 $ 0.15 Maintenance $ 0.20 Wages and salaries $ 5,000 $ 0.30 Depreciation $ 6,000 Rent $ 8,000 Administrative expenses $ 4,000 $ 0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. Required: Prepare the company’s planning budget for August.
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Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Quebec. The following table provides data concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Variable expenses: Total variable expenses Fixed expenses: Fixed Cost per Month Total fixed expenses $1,600 4,900 8,500 2,300 2,000 The company expects to charge customers an average of $6.10 per car washed. Required: Prepare a flexible budget for October assuming either 9,000 or 10,000 cars are washed. AUTO LAVAGE INC. Flexible Budget For the Month Ended October 31 Budgeted Amount Per Unit (per car) Cost per Car Washed $0.99 0.30 8.50 0.68 9,000 Cars Washed 0.07 10,000
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.
The following table provides data concerning a company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.40 Electricity $ 1,400 $ 0.08 Maintenance $ 0.15 Wages and salaries $ 4,900 $ 0.30 Depreciation $ 8,400 Rent $ 1,800 Administrative expenses $ 1,400 $ 0.04 For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.10 per car washed. Prepare the company’s planning budget for August. Budgeted Cars Washed Revenue Expenses: Cleaning Supplies Electricity Maintenance Wages and Salaries Depreciation Rent Administrative Expenses Total Expenses 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 Administrative expenses Rent Fixed Cost per Month $1,500 $ 4,800 $8,200 $ 2,200 $ 1,600 Cost per Car Washed $0.50 $ 0.05 $ 0.15 $ 0.20 $ 0.05 For example, electricity costs should be $1,500 per month plus $0.05 per car washed. The company actually washed 8,300 cars in August and collected an average of $6.80 per car washed. Check my we