please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly Lavage Rapide is a Canadian company that owns and operates a largeautomatic car wash facility near Montreal. The following table providesestimates concerning the company's costs: Fixed Cost per Month Cost perCar Washed Cleaning supplies $ 0.60 Electricity $ 1,300 $ 0.10 Maintenance$ 0.10 Wages and salaries $ 4,200 $ 0.30 Depreciation $ 8,000 Rent $1,900Administrative expenses $ 1,400 $ 0.02 For example, electricity costs shouldbe $1,300 per month plus $0.10 per car washed. The company expects towash 8, 100 cars in August and to collect an average of $6.40 per carwashed. The company actually washed 8,200 cars in August. Required:Calculate the company's activity variances for August.

Part 2:Explanation:Step 1: Calculate the budgeted cost for each expense item:- Cleaning supplies:…

Answered: Lavage Rapide is a Canadian company…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Dog 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 per MonthCost per Car WashedCleaning supplies $ 0.80Electricity$ 1,200$ 0.15Maintenance $ 0.20Wages and salaries$ 5,000$ 0.30Depreciation$ 6,000 Rent$ 8,000 Administrative expenses$ 4,000$ 0.10For 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 company actually washed 8,800 cars in August. Required: Calculate the company's activity variances for August. (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.)
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…
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 per month Cost per car washed Cleaning supplies $0.40 Electricity $1,200 $0.08 Maintaince $0.25 Wages and salaries $4,000 $0.30 Depreciation $8,000 Rent $1,900 Administrative expenses $1,500 $0.03 For example, electricity costs should be $1,200 per month plus $0.08…
Hansaben
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 per Month Cost per Car Washed Cleaning supplies $ 0.70 Electricity $ 1,400 $ 0.06 Maintenance $ 0.25 Wages and salaries $ 4,100 $ 0.20 Depreciation $ 8,000 Rent $ 1,900 Administrative expenses $ 1,600 $ 0.03 For example, electricity costs should be $1,400 per month plus $0.06 per car washed. The company expects to wash 8,000 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 Required: 8,100 $ 54,100 6,100 1,850 2,240 6,060 8,000 2,100 1,740 28,090 $ 26,010 Prepare a flexible budget performance…
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: Cleaning supplies Electricity Maintenance Wages and salaries : Depreciation Administrative expenses Rent Fixed Cost Cost per per Month Car Washed $ 1,000 $ 5,000 $ 8,200 $1,800 $ 1,600 $ 0.70 $ 0.05 $ 0.25 $ 0.20 $ 0.04 For example, electricity costs should be $1,000 per month plus $0.05 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $5.90 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 (i.e., zero variance). Input all amounts as positive values.
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 $ 0.50 $ 0. 09 $ 0. 25 $ 0.30 per Month Cleaning supplies Electricity $ 1,100 Maintenance $ 4,800 $ 8,400 $ 1,900 $ 1,500 Wages and salaries Depreciation Rent Administrative expenses $ 0.04 For example, electricity costs should be $1,100 per month plus $0.09 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $5.90 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 8,500 $ 51,660 Revenue Expenses: Cleaning supplies Electricity 4,700 1,826 2,340 7,680 8,400 2,100 Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense 1,736 28,782 Net operating income $ 22,878 Required: Calculate the company's revenue and…
Lavage Rapide is a Canadian 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 per Month Car Washed $ 0.60 $ 0.05 $ 0.25 $ 0.20 Cleaning supplies Electricity $ 1,100 Maintenance $ 4,900 $ 8,400 $ 2,000 $ 1,600 Wages and salaries Depreciation Rent Administrative expenses $ 0.04 For example, electricity costs are $1,100 per month plus $0.05 per car washed. The company actually washed 8,100 cars in August and collected an average of $6.70 per car washed.
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: Cost per Car Washed $0.60 $0.09 Fixed Cost per Month Cleaning supplies Electricity Maintenance $1,200 $0.25 $0.20 Wages and salaries Depreciation $4,600 $8,100 $1,800 $1,300 Rent Administrative expenses $0.01 For example, electricity costs should be $1,200 per month plus $0.09 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.70 per car washed. The company actually washed 8,200 cars in August. Required: Calculate the company's activity variances for August. (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.) Lavage Rapide Activity Variances ... (? ch
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 per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,400 $ 0.07 Maintenance $ 0.15 Wages and salaries $ 4,600 $ 0.20 Depreciation $ 8,200 Rent $ 2,000 Administrative expenses $ 1,400 $ 0.02 For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.40 per car washed. The company actually washed 8,200 cars in August. Required: Calculate the company's activity variances for August. (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.) Lavage Rapide Activity Variances For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS