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Hi , please help with my managerial accounting hw . Via Gelato, a popular neighborhood gelato shop, provided the following cost formulas and actual results
Hi please help with my managerial accounting hw
Via Gelato, a popular neighborhood gelato shop, provided the following cost formulas and actual results for the month of June: F ixed Variable Actual Element Element per Total for Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous per Month $ 5,600 $ 1,630 $ 2,600 $ 1,350 $ 650 Liter $ 12.00 $ 4.65 $ 1.40 $ 0.20 $ 0.35 June $ 71,540 $ 29,230 $ 13,860 $ 3,270 $ 2,600 $ 1,350 $ 2,590 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 $5,600 plus $1.40 per liter of gelato sold and the actual wages for June were $13,860. Via Gelato expected to sell 6,000 liters in June but actually sold 6,200 liters. Required: Calculate Via Gelato's revenue and spending variances for June. Note: 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.
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