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 $ $
Raw materials $ $
Wages $ $ $
Utilities $ $ $
Rent $ $
Insurance $ $
Miscellaneous $ $ $
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 $ plus $ per liter of gelato sold and the actual wages for June were $ Via Gelato expected to sell liters in June, but actually sold 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 ie zero variance Input all amounts as positive values.
