tps//newconnect.mheducation.com/flow/connect.html gular Homework Via Gelato is a

Question

tps//newconnect.mheducation.com/flow/connect.html gular Homework Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas month of Jun Fixed Element per Honth Variable Element per Liter 5 20.00 s 5.45 5 2.20 s 1.00 Actual Total for June 122,540 36,030 s 28,280 5 9,108 S ,480 $ 2,150 8,050 Revenue Raw materials Nages utilities S 6,400 s 2,438 s 3,400 s 2,150 Insurance Miscellaneous s 1.15 While gelato is sold by the cone or cup. the shop measures its activity in terms of the total number of liters of wages should be $6.400 plus $2 20 per liter of gelato sold and the actual wages for June were $20,200 Via 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 selec unfevorable, and "None" for no effect (i.e. zero variance). Input all amounts os positive values.) U" for Revenue and Spending Variances For the Month Ended June 30 Expenses Raw materials Wages Uélities Rent Miscellaneous Total expense Nel operating income

Explanation / Answer

Flexible Fixed Variable budget component component no of jobs 6,500 Revenue 20 130000 Raw materials 5.45 35,425 Wages 6,400 2.2 20700 utilities 2,430 1 8930 rent 3,400 3,400 insurance 2,150 2,150 miscellanoeus expense 730 1.15 8205 total expense 15110 9.8 78,810 Actual Revenue & spending Flexible budget variance budget 6,500 6,500 Revenue 122,540 7,460 U 130000 less:Exoenses Raw materials 36,030 605 U 35,425 Wages 20,200 500 F 20700 utilities 9,100 170 U 8930 rent 3,400 0 U 3,400 insurance 2,150 0 N 2,150 miscellanoeus expense 8,050 155 F 8205 total expense 78,930 120 U 78,810 Net operating income 43,610 7,580 U 51,190

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