Exercise 9-15 (Algo) Flexible Budgets and Revenue and Spending Variances [LO9-1, LO9-2] Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June Revenue Raw materiale Wages Utilities Rent Insurance Miscellaneous Fixed Variable Element Element per Month per liter $29.00 $6.35 $ 7,300 $ 3.10 $3,330 5 1.90 $ 4,300 $ 3,050 5820 5 2.05 Actuai Total for June $ 175,540 5.40.630 $ 26,400 3.16,100 $ 4,300 $3,050 $ 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 $3.90 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 Vin 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 $7.1600 Expenses Raw materials 625 10 Wagon 4301 Uits 8000 Rent O None Insurance O None Miscellaneous 7450 Total expense U Not operating Income U