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Lavage Rapide owns and operates a large automatic car wash near Montreal. The following table provides data concerning the company's costs: Fixed Cost Maintenance per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,400 $ 0.08 $ 0.25 $ 4,900 $ 0.30 $ 8,200 $ 1,900 $ 1,800 $ 0.04 Wages and salaries Depreciation Rent Administrative expenses For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.50 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 8,400 $ 56,050 5,480 2,034 2,315 7,750 8,200 2,100 2,032 29,911 $ 26,139

Lavage Rapide owns and operates a large automatic car wash near Montreal. The following table provides data concerning the company's costs: Fixed Cost Maintenance per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,400 $ 0.08 $ 0.25 $ 4,900 $ 0.30 $ 8,200 $ 1,900 $ 1,800 $ 0.04 Wages and salaries Depreciation Rent Administrative expenses For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.50 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 8,400 $ 56,050 5,480 2,034 2,315 7,750 8,200 2,100 2,032 29,911 $ 26,139

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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am. 112.

Lavage Rapide owns and operates a large automatic car wash near Montreal. The following table provides data concerning the company's costs: Fixed Cost Maintenance per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,400 $ 0.08 $ 0.25 $ 4,900 $ 0.30 $ 8,200 $ 1,900 $ 1,800 $ 0.04 Wages and salaries Depreciation Rent Administrative expenses For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.50 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 8,400 $ 56,050 5,480 2,034 2,315 7,750 8,200 2,100 2,032 29,911 $ 26,139
Transcribed Image Text:Lavage Rapide owns and operates a large automatic car wash near Montreal. The following table provides data concerning the company's costs: Fixed Cost Maintenance per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,400 $ 0.08 $ 0.25 $ 4,900 $ 0.30 $ 8,200 $ 1,900 $ 1,800 $ 0.04 Wages and salaries Depreciation Rent Administrative expenses For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.50 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 8,400 $ 56,050 5,480 2,034 2,315 7,750 8,200 2,100 2,032 29,911 $ 26,139
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