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: Fixed Cost Cost per Car Washed per Month Cleaning supplies Electricity $0.70 $ 0.09 $ 0.20 $ 0.30 $ 1,400 Maintenance Wages and salaries Depreciation $ 4,500 $ 8,100 $ 2,100 Rent Administrative expenses $1,400 $ 0.03 For example, electricity costs are $1,400 per month plus $0.09 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.30 per car washed.

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: Fixed Cost Cost per Car Washed per Month Cleaning supplies Electricity $0.70 $ 0.09 $ 0.20 $ 0.30 $ 1,400 Maintenance Wages and salaries Depreciation $ 4,500 $ 8,100 $ 2,100 Rent Administrative expenses $1,400 $ 0.03 For example, electricity costs are $1,400 per month plus $0.09 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.30 per car washed.

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 data concerning the company’s costs: Fixed Costper Month Cost perCar Washed Cleaning supplies $ 0.80 Electricity $ 1,500 $ 0.06 Maintenance $ 0.10 Wages and salaries $ 4,300 $ 0.40 Depreciation $ 8,400 Rent $ 1,900 Administrative expenses $ 1,800 $ 0.04 For example, electricity costs are $1,500 per month plus $0.06 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 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 8,400 Revenue $ 58,540 Expenses: Cleaning supplies 7,140 Electricity 1,968 Maintenance 1,070 Wages and salaries 7,980 Depreciation 8,400 Rent 2,100 Administrative…
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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: 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
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 $ 0.09 Maintenance $ 0.15 Wages and salaries $ 4,000 $ 0.20 Depreciation $ 8,200 Rent $ 1,900 Administrative expenses $ 1,700 $ 0.02 For example, electricity costs should be $1,100 per month plus $0.09 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.50 per car washed. Prepare the company’s planning budget for August.
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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 $ 0.80 Electricity $ 1,200 $ 0.09 Maintenance $ 0.15 Wages and salaries $ 4,500 $ 0.40 Depreciation $ 8,100 Rent $ 1,800 Administrative expenses $ 1,600 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.09 per car washed. The company expects to wash 8,300 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 8,400 Revenue $ 52,730 Expenses: Cleaning supplies 7,140 Electricity 1,917 Maintenance 1,485 Wages and salaries 8,180 Depreciation 8,100 Rent 2,000 Administrative expenses 1,666 Total expense 30,488 Net operating…
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 $ 0.50 Electricity $ 1,300 $ 0.07 Maintenance $ 0.20 Wages and salaries $ 4,000 $ 0.30 Depreciation $ 8,400 Rent $ 2,200 Administrative expenses $ 1,600 $ 0.03 For example, electricity costs should be $1,300 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.70 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: 8,300 $ 57,040 4,600 1,844 1,880 6,820 8,400 2,400 1,746 27,690 $ 29,350 Calculate the company's revenue and…
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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 $0.40 Electricity $1,200 $0.08 Maintaince $0.25 Wages and salaries $4,000 $0.30 Depreciation $8,000 Rent $1,900 Administrative expenses $1,500 $0.03 For example, electricity costs should be $1,200 per month plus $0.08…
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Subject: acounting
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