Via Gelato is a popular neighborhood gelato shop. The company has provided the f

Question

Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concerning its operations:

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 $6,100 plus $1.90 per liter of gelato sold and the actual wages for June were $17,900. Via Gelato expected to sell 6,100 liters in June, but actually sold 6,300 liters.

Complete the report showing 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 is a popular neighborhood gelato shop. The company has provided the following data concerning its operations:

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

Explanation / Answer

Complete the report showing Via Gelato revenue and spending variances for June.

Revenue 7560 U Expenses:: Raw material 285 U Wages 170 F Utilities 460 U Rent None Insurance None Miscellaneous 255 F Total expense 320 U Net operating income 7880 U

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