Via Gelato, a popular neighborhood gelato shop, provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Actual Element per Total for Liter June Revenue $ 21.00 $ 133,540 Raw materials $ 5.55 $ 37,130 Wages $ 6,500 $ 2.30 $ 21,300 Utilities $ 2,530 $ 1.10 $ 10,000 Rent $ 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's revenue and spending variances for June. Note: 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. Revenue Expenses: Via Gelato Revenue and Spending Variances For the Month Ended June 30 Raw materials Wages Utilities Rent Insurance Miscellaneous Total expenses Net operating income

Via Gelato, a popular neighborhood gelato shop, provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Actual Element per Total for Liter June Revenue $ 21.00 $ 133,540 Raw materials $ 5.55 $ 37,130 Wages $ 6,500 $ 2.30 $ 21,300 Utilities $ 2,530 $ 1.10 $ 10,000 Rent $ 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's revenue and spending variances for June. Note: 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. Revenue Expenses: Via Gelato Revenue and Spending Variances For the Month Ended June 30 Raw materials Wages Utilities Rent Insurance Miscellaneous Total expenses Net operating income

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 2PA: A company manufactures and sells racing bicycles to specialty retailers. The Bomber model sells for...

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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: Revenue Raw materials. Wages Utilities Rent Insurance Miscellaneous Fixed Element per Month $ 6,700 $ 2,730 $ 3,700 $ 2,450 $ 760 Variable Element per Liter $ 23.00 $5.75 $2.50 $ 1.30. 1.45 Actual Total for June $ 140,540 $ 37,030 $ 21,800. $ 11,600 $ 3,700 $ 2,450 $ 9,390 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 $6,700 plus $2.50 per liter of gelato sold and the actual wages for June were $21,800. Via Gelato expected to sell 6,100 liters in June, but actually sold 6,300 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.)
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Via Gelato is a popular nelghborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Actual Element Element per Total for Liter $ 23.00 $ 5.75 $ 2.50 $ 1.30 Jane per Month 5 140,540 37,030 $ 21,800 $11,600 $3,700 $ 2,450 $ 9,390 Revenue Rav materiale Wages Utilities $ 6,700 $2,730 $3,700 $2,450 $ 760 Rent Innurance Miscellaneoun 1.45 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 $6,700 plus $2.50 per liter of gelato sold and the actual wages for June were $21,800. Vla Gelato expected to sell 6,100 lters 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 (I.e., zero variance). Input all amounts as positive values.) Via Gelato Revenue and…
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Liter Fixed Element per Month Variable Element per 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 Miscellaneous $ 2,850 $ 2,850 $ 800 $ 1.85 $ 11,790 Ch 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.)…
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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: Revenue Raw materials Mages Utilities Rent Insurance Miscellaneous $ 1.35 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 $6,600 plus $2.40 per liter of gelato sold and the actual wages for June were $21,000. Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters. Revenue Expenses Fixed Variable Element Element per Month per Liter $ 22.00 $5.65 $2.40 $ 1.20 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 Raw materials $ 6,600 $ 2,630 $ 3,600 $…
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 $ 20.00 $122,540 Raw materials $ 5.45 $ 36,030 Wages $ 6,400 $ 2.20 $ 20,200 Utilities $ 2,430 $ 1.00 $ 9,100 Rent $3,400 $3,400 Insurance $ 2,150 $2,150 Miscellaneous $ 730 $ 1.15 $ 8,050 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 $6,4 00 plus $2.20 per liter of gelato sold and the actual wages for June were $20,200. Via Gelato expected to sell 6,300 liters in June, but actually sold 6,500 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.)
Mukhi
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 $ 18.00 $ 110,530 Raw materials $ 5.25 $ 33,730 Wages $ 6,200 $ 2.00 $ 18,900 Utilities $ 2,230 $ 0.80 $ 7,550 Rent $ 3,200 $ 3,200 Insurance $ 1,950 $ 1,950 Miscellaneous $ 710 $ 0.95 $ 6,670 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 $6,200 plus $2.00 per liter of gelato sold and the actual wages for June were $18,900. Via Gelato expected to sell 6,200 liters in June, but actually sold 6,400 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…
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Revenue Expenses: Raw materials Fixed Element per Month Wages Utilities Rent $ 7,300 $ 3,330 $ 4,300 $3,050 $ 820 Insurance Miscellaneous Variable Element per Actual Total for June $ 175,540 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. Via Gelato Revenue and Spending Variances For the Month Ended June 30 U Total expense Net operating income Liter $29.00 $6.35 $ 3.10 $ 1.90 Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for…
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