Based on E9-10 that we did in class, (the planning budget), prepare E9-12 (the flexible budget) and E9-14 ( the Flexible Budget Performance Report. SEE EXHIBIT 9-8 ON PAGE 402 OF THE TEXT FOR AN...

Extracted text: Based on E9-10 that we did in class, (the planning budget), prepare E9-12 (the flexible budget) and E9-14 ( the Flexible Budget Performance Report. SEE EXHIBIT 9-8 ON PAGE 402 OF THE TEXT FOR AN EXAMPLE ON HOW TO SET UP. ements E9-10 Flexible Budget [Q L09-1] Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost Cost per Car Washed per Month Cleaning suppilies $0.80 Bectricity . . $1,200 $0.15 $0.20 $0.30 Maintanance Wages and salaries Depreciation Rent.... Administrative expenses $5,000 $0.000 $8.000 $4,000 $0.10 For example, electricity costs are $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. - WE DID THIS IN CLASS. EXERCISE 9-11 Flexible Budget (e LO9-1] Refer to the data for Lavage Rapide in e Exercise 9-10. The company actually washed 8.800 cars in August. Required: Prepare the company's flexible budget for August. EXERCISE 9-12 Prepare a Report Showing Activity Variances [e LO9-2] Refer to the data for Lavage Rapide in Exercise 9-10. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,800 Revenue $43,080 Expenses: Cleaning supplies Electricity Maintenance Wages and saiaries Depreciation. Rent.... Administrative expenses Total expense 7,580 2,670 2,260 8,500 6,000 8,000 4,950 .... 39,940 Net operating income $ 3,140 EXERCISE 9-14 Prepare a Flexible Budget Performance Report [e LO9-4] Refer to the data for Lavage Rapide in e Exercises 9-10 and Q Exercises 9-12- Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August