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

	Fixed Element per Month		Variable Element per Liter		Actual Total for July
Revenue			$	13.60	$	73,930
Raw materials			$	4.50	$	25,340
Wages	$	5,000	$	1.10	$	11,260
Utilities	$	1,820	$	0.10	$	2,211
Rent	$	3,180			$	3,180
Insurance	$	1,870			$	1,870
Miscellaneous	$	550	$	0.10	$	1,187

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 $5,000 plus $1.10 per liter of gelato sold, and the actual wages for July were $11,260. Gelato Supremo expected to sell 5,300 liters in July, but actually sold 5,200 liters.

Required:

Prepare a report showing Gelato Supremo revenue and spending variances for July. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

Gelato Supremo Revenue and Spending Variances For the Month Ended July 31
	Flexible Budget	Actual Results	Revenue and Spending Variances
Revenue	$	$	$	(Click to select)UFNone
Expenses:
Raw materials				(Click to select)FUNone
Wages				(Click to select)UFNone
Utilities				(Click to select)FUNone
Rent				(Click to select)UFNone
Insurance				(Click to select)FNoneU
Miscellaneous				(Click to select)UFNone
Total expense				(Click to select)NoneUF
Net operating income	$	$	$	(Click to select)FNoneU