Miracle Car Wash located in Nashville, Tennessee has been providing interior and exterior car washes...
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Accounting
Miracle Car Wash located in Nashville, Tennessee has been providing interior and exterior car washes since 1960. Provided below is information regarding Miracle's costs: Fixed Cost per Month Cost per Car Washed $1,300 cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.50 $ 0.10 $ 0.10 $ 0.30 $5,000 $ 8,500 $1,800 $1,500 $ 0.02 For example, electricity costs are $1,300 per month plus $0.10 per car washed. The company actually washed 8,500 cars in August and collected an average of $6.20 per car washed. Required: Prepare the company's flexible budget for August. Miracle Car Wash Flexible 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
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