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Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent For example, electricity costs are $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 $5.90 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Administrative expenses Fixed Cost per Month Total expense Net operating income $1,100 $4,100 $8,400 $2,000 $1,500 8,300 $50,480 7,060 1,808 1.880 Cost per Car Washed $ 0.80 $ 0.09 7,740 8,400 2,200 1,728 30,816 $19,664 $ 0.20 $ 0.40 $ 0.04

Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent For example, electricity costs are $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 $5.90 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Administrative expenses Fixed Cost per Month Total expense Net operating income $1,100 $4,100 $8,400 $2,000 $1,500 8,300 $50,480 7,060 1,808 1.880 Cost per Car Washed $ 0.80 $ 0.09 7,740 8,400 2,200 1,728 30,816 $19,664 $ 0.20 $ 0.40 $ 0.04

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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Please Introduction and explanation and proper solution please without plagiarism please 

Required: Complete the flexible budget performance report that shows the company's activity variances and revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Revenue and Spending Variances Activity Variances
Transcribed Image Text:Required: Complete the flexible budget performance report that shows the company's activity variances and revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Revenue and Spending Variances Activity Variances
Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses For the Month Ended August 31 Actual cars washed Revenue Expenses: Fixed Cost per Month $1,100 $4,100 $8,400 $2,000 $1,500 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent For example, electricity costs are $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 $5.90 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement Administrative expenses Total expense Net operating income 8.300 $50,480 Cost per Car Washed 7,060 1,808 1,880 7,740 8,400 2,200 1,728 30,816 $19,664 $ 0.80 $ 0.09 $ 0.20 $ 0.40 $ 0.04
Transcribed Image Text:Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses For the Month Ended August 31 Actual cars washed Revenue Expenses: Fixed Cost per Month $1,100 $4,100 $8,400 $2,000 $1,500 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent For example, electricity costs are $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 $5.90 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement Administrative expenses Total expense Net operating income 8.300 $50,480 Cost per Car Washed 7,060 1,808 1,880 7,740 8,400 2,200 1,728 30,816 $19,664 $ 0.80 $ 0.09 $ 0.20 $ 0.40 $ 0.04
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