BIBd Pract 9 Problem Val x Secure http://blackboard uafs.edu/bbc webdav/pid-498118-dt content d 10949511_1/courses 201801 ACCT2813jwight group BIB %20Pract%209%20P oblem%2 Valentine Coffees has provided the following cost formulas and actual results for the month of June: Fixed ElementVariable ElementActual Total per Month per Liter for June Revenue Raw materials Wages Utilities Rent ? 20.00 $ 122,540 5.45 36,030 2.20 20,200 1.00 $ 9,100 $ 3,400 $2,150 1.15 $ 8,050 $6,400 $ 2,430 $ 3,400 Insurance 2,150 Miscellaneous$730 $ While coffee is sold by the cup, the shop measures its activity in terms of the total number of liters of coffee sold. For example, wages should be $6,400 plus $2.20 per liter of coffee sold and the actual wages for June were $20,200. Valentine expected to sell 6,300 liters in June, but actually sold 6,500 liters. Required: Calculate the following: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 1. What amount of revenue should be included in Valentine's Flexible Budget