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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent Fixed Cost per Month $1,400 $4,100 $ 8,000 $1,900 $1,600 Cost per Car Washed $ 0.40 $0.07 $ 0.30 $0.30 $ 0.02 For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The c August and collected an average of $6.00 per car washed.

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent Fixed Cost per Month $1,400 $4,100 $ 8,000 $1,900 $1,600 Cost per Car Washed $ 0.40 $0.07 $ 0.30 $0.30 $ 0.02 For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The c August and collected an average of $6.00 per car washed.

FINANCIAL ACCOUNTING
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: Cleaning supplies Electricity Maintenance Rent Fixed Cost per cost per Car Washed Month $1,400 $ 4,100 $ 8,000 $1,900 $1,600 Wages and salaries Depreciation Administrative expenses $ 0.02 For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company actually washed 8,600 cars in August and collected an average of $6.00 per car washed. Required: Prepare the company's flexible budget for August. Required: Prepare the company's flexible budget for August. $ 0.40 $0.07 $0.30 $0.30 Actual cars washed Revenue Expenses: Lavage Rapide Flexible Budget For the Month Ended August 31 Cleaning supplies Electricity Maintenance Rent Wages and salaries Depreciation Administrative expenses Total expense Net operating income $ 0 0
Transcribed Image Text: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 Rent Fixed Cost per cost per Car Washed Month $1,400 $ 4,100 $ 8,000 $1,900 $1,600 Wages and salaries Depreciation Administrative expenses $ 0.02 For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company actually washed 8,600 cars in August and collected an average of $6.00 per car washed. Required: Prepare the company's flexible budget for August. Required: Prepare the company's flexible budget for August. $ 0.40 $0.07 $0.30 $0.30 Actual cars washed Revenue Expenses: Lavage Rapide Flexible Budget For the Month Ended August 31 Cleaning supplies Electricity Maintenance Rent Wages and salaries Depreciation Administrative expenses Total expense Net operating income $ 0 0
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