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Lavage Rapide
Revenue and Spending Variances
For the Month Ended August 31




Revenue and Spending Variances

Revenue

$

40

U

Expenses:

 

 




Cleaning supplies

 

520

U

Electricity

 

150

U

Maintenance

 

500

U

Wages and salaries

 

860

U

Depreciation

 

0

None

Rent

 

0

None

Administrative expenses

 

70

U

Total expense

 

2,100

U

Net operating income

$

2,140

U



http://mh10.brownstone.net/modules/skin/images/grading/incorrect.gif

Total grade: 0.0×1/20 + 1.0×1/20 + 0.0×1/20 + 0.0×1/20 + 0.0×1/20 + 0.0×1/20 + 0.0×1/20 + 1.0×1/20 + 0.0×1/20 + 0.0×1/20 + 0.0×1/20 + 0.0×1/20 + 0.0×1/20 + 1.0×1/20 + 0.0×1/20 + 0.0×1/20 + 0.0×1/20 + 1.0×1/20 + 0.0×1/20 + 0.0×1/20 = 0% + 5% + 0% + 0% + 0% + 0% + 0% + 5% + 0% + 0% + 0% + 0% + 0% + 5% + 0% + 0% + 0% + 5% + 0% + 0%

Feedback:




Lavage Rapide
Revenue and Spending Variances
For the Month Ended August 31




Flexible
Budget

Actual
Results

Revenue and
Spending Variances

Cars washed (q)

 

8,800

 

8,800

 







Revenue ($4.90q)

$

43,120

$

43,080

$

40

U

Expenses:

 

 

 

 

 







Cleaning supplies ($0.80q)

 

7,040

 

7,560

 

520

U

Electricity ($1,200 + $0.15q)

 

2,520

 

2,670

 

150

U

Maintenance ($0.20q)

 

1,760

 

2,260

 

500

U

Wages and salaries
($5,000 + $0.30q)

 

7,640

 

8,500

 

860

U

Depreciation ($6,000)

 

6,000

 

6,000

 

0

None

Rent ($8,000)

 

8,000

 

8,000

 

0

None

Administrative expenses
($4,000 + $0.10q)

 

4,880

 

4,950

 

70

U

Total expense

 

37,840

 

39,940

 

2,100

U

Net operating income

$

5,280

$

3,140

$

2,140

U











Question 23: Score 1/4




Your response

Correct response

Exercise 10-12 Prepare a Flexible Budget Performance Report [LO4]

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
Per Month

Cost per Car
Washed

Cleaning supplies

 

 

 

 

 

$

0.80




Electricity

 

$

1,200

 

 

$

0.15

 

Maintenance

 

 

 

 

 

$

0.20

 

Wages and salaries

 

$

5,000

 

 

$

0.30

 

Depreciation

 

$

6,000

 

 

 

 

 

Rent

 

$

8,000

 

 

 

 

 

Administrative expenses

 

$

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.

The actual operating results for August appears below.







Lavage Rapide
Income Statement
For the Month Ended August 31

Actual cars washed

 

8,800

Revenue

$

43,080

Expenses:

 

 

Cleaning supplies

 

7,560

Electricity

 

2,670

Maintenance

 

2,260

Wages and salaries

 

8,500

Depreciation

 

6,000

Rent

 

8,000

Administrative expenses

 

4,950

Total expense

 

39,940

Net operating income

$

3,140



Required:

Prepare a flexible budget performance report that shows the company's activity variances and revenue and spending variances for August. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)







Lavage Rapide
Flexible Budget Performance Report
For the Month Ended August 31




Activity Variances

Revenue and Spending Variances

Revenue

$

  1   (0%)

  F   (0%)

$

  1   (0%)

  F   (0%)

Expenses:

 

 




 

 




Cleaning supplies

 

  1   (0%)

F (3%)

 

  1   (0%)

U (3%)

Electricity

 

  1   (0%)

F (3%)

 

  1   (0%)

U (3%)

Maintenance

 

  1   (0%)

  U   (0%)

 

  1   (0%)

  None   (0%)

Wages and salaries

 

  1   (0%)

F (3%)

 

  1   (0%)

U (3%)

Depreciation

 

  1   (0%)

  F   (0%)

 

  1   (0%)

  U   (0%)

Rent

 

  1   (0%)

None (3%)

 

  1   (0%)

  F   (0%)

Administrative expenses

 

  1   (0%)

F (3%)

 

  1   (0%)

U (3%)

Total expense

 

  1   (0%)

  None   (0%)

 

  1   (0%)

  None   (0%)

Net operating income

$

  1   (0%)

U (3%)

$

  1   (0%)

  None   (0%)



Exercise 10-12 Prepare a Flexible Budget Performance Report [LO4]

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
Per Month

Cost per Car
Washed

Cleaning supplies

 

 

 

 

 

$

0.80




Electricity

 

$

1,200

 

 

$

0.15

 

Maintenance

 

 

 

 

 

$

0.20

 

Wages and salaries

 

$

5,000

 

 

$

0.30

 

Depreciation

 

$

6,000

 

 

 

 

 

Rent

 

$

8,000

 

 

 

 

 

Administrative expenses

 

$

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.

The actual operating results for August appears below.







Lavage Rapide
Income Statement
For the Month Ended August 31

Actual cars washed

 

8,800

Revenue

$

43,080

Expenses:

 

 

Cleaning supplies

 

7,560

Electricity

 

2,670

Maintenance

 

2,260

Wages and salaries

 

8,500

Depreciation

 

6,000

Rent

 

8,000

Administrative expenses

 

4,950

Total expense

 

39,940

Net operating income

$

3,140

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