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 Variable Element per Element per Actual Total Month for June $ 160,540 $ 38,430 $ 24,900 $14,200 $4,100 $ 2,850 $ 11,790 $ 7,100 $ 3,130 $ 4,100 $ 2,850 $ 800 Liter $ 27.00 $6.15 $ 2.90 $ 1.70 1.85 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.

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Chapter1: Financial Statements And Business Decisions
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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
Expenses:
Raw materials
Wages
Utilities
Rent
Insurance
Miscellaneous
Total expense
Net operating income
Transcribed Image Text: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 Expenses: 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:
Revenue
Raw materials
Wages
Utilities
Rent
Insurance
Miscellaneous
Fixed
Variable
Element per Element per Actual Total
Month
Liter
for June
$ 160,540
$ 27.00
$6.15
$ 38,430
$ 2.90
$ 24,900
$ 1.70
$ 14,200
$ 7,100
$ 3,130
$ 4,100
$ 2,850
$ 800
1.85
$ 4,100
$ 2,850
$ 11,798
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.
Transcribed Image Text: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 Variable Element per Element per Actual Total Month Liter for June $ 160,540 $ 27.00 $6.15 $ 38,430 $ 2.90 $ 24,900 $ 1.70 $ 14,200 $ 7,100 $ 3,130 $ 4,100 $ 2,850 $ 800 1.85 $ 4,100 $ 2,850 $ 11,798 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.
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