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Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Lovage 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 per Month Car Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.50 $ 1,200 $ 0.10 $ 0,25 $ 4,800 $ 0.40 $ 8,400 $ 2,100 $ 1,800 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.40 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 Required: 8,400 $ 55,220 4,650 2,000 2,315 8,480 8,400 2,300 1.866 30.011 $ 25,209 Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,400 $ 55.220 Expenses Cleaning supplies 4,650 Electricity 2.000 Maintenance 2.315 Wages and salaries 8,480 Depreciation 8,400 Rent 2.300 Administrative expenses 1,866 Total expense 30.011 Net operating income $ 25,209 Flexible Budget Planning Budget

Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Lovage 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 per Month Car Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.50 $ 1,200 $ 0.10 $ 0,25 $ 4,800 $ 0.40 $ 8,400 $ 2,100 $ 1,800 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.40 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 Required: 8,400 $ 55,220 4,650 2,000 2,315 8,480 8,400 2,300 1.866 30.011 $ 25,209 Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,400 $ 55.220 Expenses Cleaning supplies 4,650 Electricity 2.000 Maintenance 2.315 Wages and salaries 8,480 Depreciation 8,400 Rent 2.300 Administrative expenses 1,866 Total expense 30.011 Net operating income $ 25,209 Flexible Budget Planning Budget

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter7: Allocating Costs Of Support Departments And Joint Products
Section: Chapter Questions
Problem 1CE: The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include:...
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Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Lovage 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 per Month Car Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.50 $ 1,200 $ 0.10 $ 0,25 $ 4,800 $ 0.40 $ 8,400 $ 2,100 $ 1,800 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.40 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 Required: 8,400 $ 55,220 4,650 2,000 2,315 8,480 8,400 2,300 1.866 30.011 $ 25,209 Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,400 $ 55.220 Expenses Cleaning supplies 4,650 Electricity 2.000 Maintenance 2.315 Wages and salaries 8,480 Depreciation 8,400 Rent 2.300 Administrative expenses 1,866 Total expense 30.011 Net operating income $ 25,209 Flexible Budget Planning Budget <Prev
Transcribed Image Text:Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Lovage 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 per Month Car Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.50 $ 1,200 $ 0.10 $ 0,25 $ 4,800 $ 0.40 $ 8,400 $ 2,100 $ 1,800 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.40 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 Required: 8,400 $ 55,220 4,650 2,000 2,315 8,480 8,400 2,300 1.866 30.011 $ 25,209 Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,400 $ 55.220 Expenses Cleaning supplies 4,650 Electricity 2.000 Maintenance 2.315 Wages and salaries 8,480 Depreciation 8,400 Rent 2.300 Administrative expenses 1,866 Total expense 30.011 Net operating income $ 25,209 Flexible Budget Planning Budget <Prev
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