Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas...

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Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Variable Element per Actual Total Liter Fixed Element per Month for June Revenue $ 21.00 $ 133,540 Raw materials $ 5.55 $ 37,130 Wages $ 6,500 $ 2.30 $ 21,300 Utilities Rent $ 2,530 $ 1.10 $ 10,000 $ 3,500 $ 3,500 Insurance $ 2,250 Miscellaneous $ 740 $ 1.25 $ 2,250 $ 8,790 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $6,500 plus $2.30 per liter of gelato sold and the actual wages for June were $21,300. Via Gelato expected to sell 6,400 liters in June, but actually sold 6,600 liters. Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) Revenue Via Gelato Revenue and Spending Variances Expenses: For the Month Ended June 30 Raw materials Wages Utilities Rent Insurance Miscellaneous Total expense Net operating income Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Variable Element per Actual Total Liter Fixed Element per Month for June Revenue $ 21.00 $ 133,540 Raw materials $ 5.55 $ 37,130 Wages $ 6,500 $ 2.30 $ 21,300 Utilities Rent $ 2,530 $ 1.10 $ 10,000 $ 3,500 $ 3,500 Insurance $ 2,250 Miscellaneous $ 740 $ 1.25 $ 2,250 $ 8,790 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $6,500 plus $2.30 per liter of gelato sold and the actual wages for June were $21,300. Via Gelato expected to sell 6,400 liters in June, but actually sold 6,600 liters. Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) Revenue Via Gelato Revenue and Spending Variances Expenses: For the Month Ended June 30 Raw materials Wages Utilities Rent Insurance Miscellaneous Total expense Net operating income

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To calculate the revenue and spending variances for Via Gelato in June we need to compare the actual ... View the full answer