Check Exercise 9-16 Flexible Budgets and Revenue and Spending Variances (L09-1, LO9-31 Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Revenge Raw materiala Nages Utilities Plant Insurance Miscellaneous Fixed Hent Variable element per Month par Liter $29.00 $ 6.35 $ 7,00 $ 3.10 $ 3, 30 $ 1.90 $ 4,300 $ 3.050 $ 20 tual Total for June $175.540 $ 40,630 $ 26,400 $ 16,100 $ 4.300 13.050 12,990 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 $7,300 plus $3.10 per liter of gelato sold and the actual wages for June were $26,400. Via Gelato expected to sell 6,100 liters in June, but actually sold 6,300 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 (.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 Wage pter 9 - Homework (Algorithmic 2) 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 $7,300 plus $3.10 per liter of gelato sold and the actual wages for June were $26.400. Via Gelato expected to sell 6,100 liters in June, but actually sold 6,300 liters. Required: Calculate Via Gelato revenue and spending variances for June (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) ces 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