Expert help request for Managerial Accounting:

Hi, I need help with calculating revenue and spending variances; specifically for Total expenses and Net operating income. Please include step by step help. Thanks

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 Element per Month			Variable Element per Liter			Actual Total for June
Revenue				$	27.00		$	160,540
Raw materials				$	6.15		$	38,430
Wages	$	7,100		$	2.90		$	24,900
Utilities	$	3,130		$	1.70		$	14,200
Rent	$	4,100					$	4,100
Insurance	$	2,850					$	2,850
Miscellaneous	$	800		$	1.85		$	11,790

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 $7,100 plus $2.90 per liter of gelato sold and the actual wages for June were $24,900. Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters.

Required:

Calculate Via Gelato revenue and spending variances for June. (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.)

Via Gelato
Revenue and Spending Variances
For the Month Ended June 30
Revenue	$6,860	U
Expenses:
Raw materials	300	U
Wages	180	F
Utilities	530
Rent		None
Insurance		None
Miscellaneous	480	F
Total expense	7,120
Net operating income	$13,980

Total expenses and net operating income are incorrect.