rm.2answer must be correct or i will give down vote Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table providesestimates concerning the company's costs:FixedCost perMonthCost perCar WashedCleaning supplies$ 0.80Electricity$ 1,400$ 0.10Maintenance$ 0.25Wages and salaries$ 4,500$ 0.20Depreciation$ 8,400Rent$ 2,000Administrative expenses$ 1,300$ 0.03For example, electricity costs should be $1,400 per month plus $0.10 per car washed. The company actually washed8,500 cars in August and collected an average of $6.30 per car washed. This average matches the budgeted revenueper car.Required:Prepare the company's flexible budget for August.Lavage RapideFlexible BudgetFor the Month Ended August 31RevenueExpenses:Cleaning suppliesElectricityMaintenanceWages and salariesDepreciationRentAdministrative expensesTotal expenses0Net operating income$0

Hello student! The Flexible Budget is the budgeted cost adjusted to the actual activity level. This…

Answered: Lavage Rapide owns and operates a large…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4EA: Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on...

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Lavage Rapide is a Canadlan 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 $ 0.40 $ 0.10 $ 0.10 $ 0. 20 per Month Cleaning supplies Electricity Maintenance $ 1,e00 $ 4,100 $ 8,100 $ 2, 200 $ 1,300 Wages and salaries Depreciation Rent Administrative expenses $ 0.04 For example, electricity costs are $1,000 per month plus $0.10 per car washed. The company expects to wash 8,500 cars In August and to collect an average of $6.30 per car washed. Requlred: 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 salaries Depreciation Rent Administrative expenses Total expense Net operating income
Jake's Roof Repair has provided the following data concerning its costs: Fixed Coat Cost per Repair-Hour $15.00 97.40 per Month $21,200 Wagon and salarion Parts and supplies Equipment depreciation Truck operating expensea Rent Administrative expenses $ 2,710 * 5,740 3 4,640 8 3,840 $0.60 9 1.50 8 0.00 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour he company expected to work 2,800 repair-hours in May, but actually worked 2,700 repair-hours. The company expects its sales to be $53.00 per repair-hour. Required: Compute the company's activity variances for May. (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.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue Expenses: Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating…
Lavage Rapide 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 Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.50 $ 0.06 $ 1,100 $ 0.15 $ 5,000 $ 0.30 $ 8,200 $1,900 $ 1,400 $ 0.05 For example, electricity costs should be $1,100 per month plus $0.06 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.80 per car washed. The company actually washed 8,600 cars in August. Required: Calculate the company's activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values. Revenue Lavage Rapide Activity Variances For the Month Ended August 31 $ 58,480 None Expenses: Cleaning supplies 4,300 F Electricity 1,616 F…
Lavage Rapide 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 $ 1,400 $ 0.09 Maintenance $ 0.30 Wages and salaries $ 4,400 $ 0.20 Depreciation Rent $ 8,000 $ 2,100 Administrative expenses $ 1,700 $ 0.04 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company actually washed 8,100 cars in August and collected an average of $6.90 per car washed. Required: Prepare the company's flexible budget for August. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expenses Net operating income
Lavage Rapide 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 $ 0.60 Electricity $ 1,200 $ 0.07 Maintenance $ 0.15 Wages and salaries $ 4,700 $ 0.40 Depreciation $ 8,500 Rent $ 2,000 Administrative expenses $ 1,700 $ 0.04 For example, electricity costs should be $1,200 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.20 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 8,600 Revenue $ 54,800 Expenses: Cleaning supplies 5,600 Electricity 1,765 Maintenance 1,515 Wages and salaries 8,460 Depreciation 8,500 Rent 2,200 Administrative expenses 1,940 Total expenses 29,980 Net operating income $…
Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on new home construction jobs. The following are some of the costs that they incur. Classify these costs as fixed or variable costs and as product or period costs. Lumber used to construct decks ($12.00 per square foot) Carpenter labor used to construct decks ($10 per hour) Construction supervisor salary ($45,000 per year) Depreciation on tools and equipment ($6,000 per year) Selling and administrative expenses ($35,000 per year) Rent on corporate office space ($34,000 per year) Nails, glue, and other materials required to construct deck (varies per job)
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tabl provides estimates concerning the company's costs: Fixed Cost Cost per per Month Car Washed Cleaning supplies Electricity Maintenance $ 0.80 $ 0.15 $ 0.20 $ 0.30 $ 1,200 Wages and salaries Depreciation $ 5,000 $ 6,000 $ 8,000 $ 4,000 Rent Administrative expenses $ 0.10 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 MMonth Ended Auguet 31
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 Cost per Car Washed $ 0. 60 $ 0.06 $ 0. 20 $ 0.40 per Month Cleaning supplies Electricity $ 1,100 Maintenance $ 4,600 $ 8,000 $ 2,200 $ 1,500 Wages and salaries Depreciation Rent Administrative expenses $ 0.04 For example, electricity costs should be $1,100 per month plus $0.06 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.00 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 salaries Depreciation Rent Administrative expenses Total expense Net 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: Fixed Cost Cost per Car Washed $ 0.40 $ 0.10 $ 0. 20 $ 0.30 per Month Cleaning supplies Electricity $ 1,100 Maintenance $ 4,400 $ 8,500 $ 2,200 $ 1,600 Wages and salaries Depreciation Rent Administrative expenses $ 0.03 For example, electricity costs should be $1,100 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.70 per car washed. The company actually washed 8,400 cars in August. Required: Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favor able, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Activity Variances For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity…
Calculate the product costs.
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 Cost per Car Washed $0.80 $0.15 $0.20 $0.30 per Month Cleaning supplies Electricity Maintenance $1,200 Wages and salaries Depreciation Rent Administrative expenses $5,000 $6,000 $8,000 $4,000 $0.10 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. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,800 Revenue $ 43,080 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 7,560 2,670 2,260 8,500 6,000 8,000 4,950 39,940 $ 3,140 Administrative expenses Total expense Net operating income
Refer to the following data: Direct material used $160 000 Marketing costs $ 5 000 Indirect labour $ 6 000 Depreciation on factory equipment $ 50 000 Wages of assembly line workers $ 30 000 Factory cleaners wages $ 25 000 Depreciation of computers used in a sales department $20 000 Oil consumed by sewing machines $ 5 000 Required: Determine each of the…

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