Lavage Rapide 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 Fixed Cost Cost per per Month Car Washed $ 0.40 $ 1,100 $ 0.08 $ 0.25 $ 0.40 Rent Mages and salaries Depreciation Administrative expenses $ 0.01 For example, electricity costs should be $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 $6.60 per car washed. The company actually washed 8.300 cars in August $ 4,400 $ 8,400 $ 2,000 $ 1,000 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 Activity Variances For the Month Ended August 31

Lavage Rapide 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 Fixed Cost Cost per per Month Car Washed $ 0.40 $ 1,100 $ 0.08 $ 0.25 $ 0.40 Rent Mages and salaries Depreciation Administrative expenses $ 0.01 For example, electricity costs should be $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 $6.60 per car washed. The company actually washed 8.300 cars in August $ 4,400 $ 8,400 $ 2,000 $ 1,000 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 Activity Variances For the Month Ended August 31

Name: Lavage Rapide owns and operates a large automatic car wash facility n
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Description: Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table provides estimatesconcerning the company's costs:Cleaning suppliesElectricityMaintenanceWages and salariesDepreciationRentAdministrative expenses$

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 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
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Lavage Rapide 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 Rent Administrative expenses. $ 0.03 For example, electricity costs should be $1,000 per month plus $0.07 per car washed. The company expects to wash 8.300 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 Actual cars washed Revenue Expenses: For the Month Ended August 31 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Fixed Cost Cost per per Month Car Washed $ 0.70 $1,000 $ 0.07 $0.10 $.0.30 $ 4,300 $ 8,200 $2,100 $ 1,700 Administrative expenses Total expenses Het operating income 8,400 $53,560 6,310 1,551 1,070 7,150 8,200 2.300 1,849 28,430 $ 25,110
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