C ezto.mheducation.com/hm.tpx Lavage Rapide is a Canadian company that owns and

Question

C ezto.mheducation.com/hm.tpx Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data conceming the company's costs: Cleaning supplies Electricity $ 0.70 $0.08 0.25 $0.20 $ 1,100 Wages and salaries Depreciation Rent Administrative expenses $ 4,000 8,200 $1,900 $ 1,700 0.01 For example, electricity costs are $1,100 per month plus $0.08 per car washed. The company actually washed 8,000 cars in August. The company expected to collect an average of $6.60 per car washed The actual operating results for August appear below Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,000 S 52,760 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 6,130 1,880 2,530 6,510 8,200 1,900 1,835 Administrative expenses Total expense 28,985 Net operating income s 23,775

Explanation / Answer

Lavage Rapide All Amounts in $ Revenue and Spending Variances For The Month Ended August 31 Revenue 40 U Expenses Cleaning Supplies 530 U Electricity 140 U Maintenance 530 U Wages and Salaries 910 U Depreciation 0 None Rent 0 None Administrative Expenses 55 U Total Expense 2165 U Net Operating Income 2205 U

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