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 Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance For example, electricity costs are $1,400 per month plus $0.05 per car washed. The company actually washed 8,100 cars in August and collected an average of $6.00 pe car washed. Required: Prepare the company's flexible budget for August. Wages and salaries Depreciation Fixed Cost per Month Rent Administrative expenses Total expense Net operating income $ 1,400 $ 4,900 $ 8,200 $ $ 2,200 $ 1,600 Cost per Car Washed $ 0.40 $ 0.05 $ 0.25 $ 0.30 0 0 $ 0.03

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Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.