Answer and show formulas

Exercise 9-15 (Algo) Flexible Budgets and Revenue and Spending Variances (LO9-1, LO9-2] Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed variable Element Element per Actual Total per Month Liter for June Revenue $ 29.00 $ 175, 540 Raw materials $ 6.35 $ 40,630 Wages $ 7,300 $ 3.10 $ 26,400 Utilities $ 3,330 $ 1.90 $ 16,100 Rent $ 4,300 $ 4,300 Insurance $ 3,050 $ 3,650 Miscellaneous $ 820 $ 2.05 $ 12,990 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 $7,300 plus $3.10 per liter of gelato sold and the actual wages for June were $26,400. Via Gelato expected to sell 6,100 liters In June, but actually sold 6,300 liters. Required: Calculate Via Gelato revenue and spending varlances 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.) Via Gelato Revenue and Spending Variances For the Month Ended June 30 Revenue Expenses: Raw materials Wages Utilities F Rent None U Insurance Miscellaneous Total expense Net operating income