Please do not give solution in image format thanku Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for themonth of June:Actual Totalfor June$ 90,540$31,630$ 6,000$ 16,900$ 2,030$ 6,000$3,000$3,000Insurance $1,750$1,750Miscellaneous $690$ 5,200While 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 $6,000 plus $1.80 per liter of gelato sold and the actual wages for June were $16,900. Via Gelato expected to sell6,000 liters in June, but actually sold 6,200 liters.RevenueRaw materialsWagesUtilitiesRentFixed Element Variable Elementper Monthper Liter$ 16.00$ 5.05$ 1.80$ 0.600.75Required: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.)

Variance refers to those deviation which is used to determine the difference between the actual…

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 Variable Element per Month per Liter Actual Total for June

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 Variable Element per Month per Liter Actual Total for June

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 20M

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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: 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…
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Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concerning its operations:Fixed Variable ActualElement Element Total forper Month per Liter JuneRevenue .......................... $12.00 $71,540Raw materials ................. $4.65 $29,230Wages ............................. $5,600 $1.40 $13,860Utilities ............................ $1,630 $0.20 $3,270Rent ................................ $2,600 $2,600Insurance ........................ $1,350 $1,350Miscellaneous ................. $650 $0.35 $2,590While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of litersof gelato sold. For example, wages should be $5,600 plus $1.40 per liter of gelato sold and the actual wagesfor June were $13,860. Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters.Required:Prepare a report showing Via Gelato revenue and spending variances for June.
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