Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tableprovides data concerning the company's costs:Cleaning suppliesElectricityMaintenanceRentWages and salaries.DepreciationAdministrative expenses$ 0.03For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company actually washed 8,600 cars in Augustand collected an average of $6.10 per car washed.Actual cars washedRevenueExpenses:Required:Prepare the company's flexible budget for August.Cleaning suppliesElectricityMaintenanceAnswer is complete but not entirely correct.Lavage RapideFlexible BudgetFor the Month Ended August 31Wages and salariesDepreciationRentAdministrative expensesTotal expenseNet operating incomeFixed Cost Cost per Carper MonthWashed$0.40$ 0.06$0.15$0.30✓$1,300$ 4,500$ 8,100$$$ 2,000$ 1,3000x0x0x0x0x0x0x0x0x00

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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.03 For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company actually washed 8,600 cars in August and collected an average of $6.10 per car washed. Required: Prepare the company's flexible budget for August. Actual cars washed Answer is complete but not entirely correct. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per Car per Month Washed $ 1,300 $ 4,500 $ 8,100 Total expense Net operating income $ 2,000 $ 1,300 $ $ XX 0 $0.40 $ 0.06 $ 0.15 $ 0.30 0X 0x 0x 0x 0x 0 0x 0 0

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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.03 For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company actually washed 8,600 cars in August and collected an average of $6.10 per car washed. Required: Prepare the company's flexible budget for August. Actual cars washed Answer is complete but not entirely correct. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per Car per Month Washed $ 1,300 $ 4,500 $ 8,100 Total expense Net operating income $ 2,000 $ 1,300 $ $ XX 0 $0.40 $ 0.06 $ 0.15 $ 0.30 0X 0x 0x 0x 0x 0 0x 0 0

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4EB: Roper Furniture manufactures office furniture and tracks cost data across their process. The...

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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 Cost per Month Car Wanhed $ 0.60 $0.09 $ 0.10 $ 0.20 Cleaning nupplies Electricity $1,400 Maintenance $ 4,300 $ 8,500 $ 1,900 $ 1,300 Wages and salaries Depreciation Rent Administrative expenses $ 0.03 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 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 favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Luvage Rapide Activity Varlances For the Month Ended August 31 Revenue Expenses Cleaning supplies Electricity Maintenanna
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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent For example, electricity costs are $1,200 per month plus $0.09 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.50 per car washed. Required: Prepare the company's flexible budget for August. Lavage Rapide Flexible Budget For the Month Ended August 31 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Fixed Cost per Month $ 1,200 $ 4,400 $ 8,000 $ 1,800 $ 1,600 Wages and salaries Depreciation Rent Cost per Car Washed $ 0.50 $ 0.09 $ 0.20 $ 0.20 Administrative expenses $ 0.04
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: cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent For example, electricity costs are $1,200 per month plus $0.07 per car washed. The company actually washed 8,100 cars in August and collected an average of $6.10 per car washed. Required: Prepare the company's flexible budget for August Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Fixed Cost per Month $ 1,200 $ 4,400 $ 8,100 $ 1,900 $ 1,500 Rent Administrative expenses Total expense Net operating income S Cost per Car Washed $ 0.50 $ 0.07 $0.15 $ 0.30 0 0 $ 0.02
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: Cleaning supplies Electricity Maintenance Rent Wages and salaries Depreciation Administrative expenses For example, electricity costs are $1,100 per month plus $0.08 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $5.90 per car washed. Required: Prepare the company's planning budget for August. > Answer is complete but not entirely correct. Lavage Rapide Planning Budget For the Month Ended August 31 Budgeted cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Fixed Cost Cost per Car per Month Washed $ 1,100 $4,500 $ 8,400 $ 2,200 $1,400 Administrative expenses Total expense Net operating income $ $ 0x 0x 0x 0x 0X 0 x 0x 0x 0 x 0 do $ 0.50 $ 0.08 $ 0.30 $ 0.20 0 $ 0.02
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 $ 0.80 Electricity $ 1,200 $ 0.05 Maintenance $ 0.10 Wages and salaries $ 4,700 $ 0.40 Depreciation $ 8,400 Rent Administrative expenses $ 1,900 $ 1,400 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.05 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.20 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: 8,500 $ 54,180 7,220 1,590 1,080 8,420 8,400 2,100 1,468 30,278 $ 23,902 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: 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 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: 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…
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 $ 1,100 $ 0.09 Maintenance $ 0.15 Wages and salaries $ 4,000 $ 0.20 Depreciation $ 8,200 Rent $ 1,900 Administrative expenses $ 1,700 $ 0.02 For example, electricity costs should be $1,100 per month plus $0.09 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.50 per car washed. Prepare the company’s planning budget for August.
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…