Lavagn Rapide is a Canadian company that own and aparatos a lange automatic carw

Question

Lavagn Rapide is a Canadian company that own and aparatos a lange automatic carwash facility noar Montroal. The toilowing table proides data concaning the company's cot Fxad Cost Cost par Cloaning supplies S 1,100 Wages and saaes 0.30 ODA For ample, electriclty costs ane $1,100 per month plus $0.06 par car washed. The company cxpcts to wash 8,400 cs in August and to collact an average ot $.60 par car washad The achual opratinlfor August appar balow Lavage Rpica Income Statament For the Month Endad August 31 cars washod $57 540 Cloaning supplies Wages and salaries 7 280 Total expann Not operaing incoma 31 294 Requirad: Complate the xble budget partonmance port that showa tha company's act vity varlances and ravanue and spanding varlances for August (Indloate the ofot of aach varlanoe by Galeodng "F for favorabie iV. for unfavorable, and "None" for no emot (La., zero varten0e). Input all amounts pocit aluaG) Flexlble Budgat Parformance Raport For the Month Endad Auguet 31 Revanue and Cleaning supplias Mainananc lages and laries aparatding incoma

Explanation / Answer

Actual results Revenue and spending variances Flexible budget Activity variances Planning budget Revenue 57540 1440 F 56100 660 F 55440 Expenses: Cleaning supplies 3860 460 U 3400 40 U 3360 Electricity 1490 35 F 1525 5 U 1520 Maintenance 1080 230 U 850 10 U 840 Wages and salaries 7280 330 U 6950 30 U 6920 Depreciation 8100 0 None 8100 0 None 8100 Rent 2400 200 U 2200 0 None 2200 Administrative expenses 2036 104 F 2140 4 U 2136 Total expense 26246 1081 U 25165 89 U 25076 Net operating income 31294 359 F 30935 571 F 30364

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