Return to question Exercise 9-15 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: points Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Fixed Element Variable Element Actual Total per Month per Liter for June $ 22.00 $130,540 $ 5.65 $ 35,930 $ 6,600 $ 2.40 $ 21,000 $ 2,630 $ 1.20 $ 10,500 $ 3,600 $ 3,600 $ 2,350 $ 2,350 $ 750 $ 1.35 $ 8,590 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 $6,600 plus $2.40 per liter of gelato sold and the actual wages for June were $21,000. Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 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 (i.e., zero variance). Input all amounts as positive values.) Answer is complete but not entirely correct. Via Gelato Revenue and Spending Variances For the Month Ended June 30 Revenue 436.400 u Expenses: Raw materials 35,030 XU. Wages 21,480 XF Utilities 10,070810 Rent 3,600 None Insurance 2,350 X None Miscellaneous 9,120 XF Total expense 81,650 X U Net operating income $ 54,750U 00000000