Please do not give solution in image format thanku 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 salariesDepreciationAdministrative expenses.RentRevenueExpenses:Fixed Costper MonthCleaning suppliesElectricityMaintenance$1,500$4,500$8,400$2,000$1,600Lavage RapideActivity VariancesFor the Month Ended August 31Wages and salariesDepreciationRentAdministrative expensesTotal expenseNet operating incomeCost perCar WashedFor example, electricity costs are $1,500 per month plus $0.09 per car washed. The company expects to wash 8,400 cars in Augustand to collect an average of $6.50 per car washed. The company actually washed 8,500 cars in August.$0.60$0.09Required: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 (i.e., zero variance). Input all amounts as positive values.)$0.30$0.30Saved$0.04H

The activity variance is the difference between the planning budget and flexible budget. The…

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 expens Rent Fixed Cost per Month $1,500 $4,500 $8,400 $2,000 Cost per Car Washed Saved $0.60 $0.09 $0.30 $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 Administrative expens Rent Fixed Cost per Month $1,500 $4,500 $8,400 $2,000 Cost per Car Washed Saved $0.60 $0.09 $0.30 $0.30

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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