None Exercise 9-9 (Static) Planning Budget [LO9-1]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.Cost perCar Washedcleaning suppliesElectricityMaintenancewages and salariesDepreciationRentAdministrative expensesFixed Costper Month$ 0.00$ 1,200$ 0.15$ 0.20$5,000$ 0.30$ 0,000$$0,0004,000$ 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.Required:Prepare the company's planning budget for AugustLavage RapidePlanning BudgetFor the Month Ended August 31RevanueExpensesCleaning suppliesElectricityMaintenanceWages and salariesDepreciationRentAdministrative expensesTotal expenseNet operating income0.0

The planning budget is the fixed budget. It can not be changed with change in the production level.…

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 per Month Cost per Car Washed $ 0.00 $1,200 50.25 50.20 $5,000 $0.30 $6,000 $8,000 $4,000 $0.30 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 Lavage Rapide Planning Budget For the Month Ended August 31 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salades Depreciation Ront Administrative expenses Total expense Nat 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 per Month Cost per Car Washed $ 0.00 $1,200 50.25 50.20 $5,000 $0.30 $6,000 $8,000 $4,000 $0.30 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 Lavage Rapide Planning Budget For the Month Ended August 31 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salades Depreciation Ront Administrative expenses Total expense Nat 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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