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Exercise 9-12 (Algo) Revenue and Spending Variances [LO9-3] Lavage Rapide owns and operates a large...

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Exercise 9-12 (Algo) Revenue and Spending Variances [LO9-3] Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: For example, electricity costs should be $1,200 per month plus $0.06 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: Required: Calculate the company's revenue and spending variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (li.e., zero variance). Input all amounts as positive values

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Accounting