Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed

image text in transcribed
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element Variable Element Actual Tota.l per Liter $20.00 $ 5.45 s 2.20 $ 1.0 for June 122,540 36,030 s 20,200 $ 9,100 $ 3,400 $ 2,150 $ 8,050 per Month Revenue Raw materials Wagea utilities $ 6,400 2,430 3,400 2,150 $ 730 Rent Insurance Miscellaneous s 1.15 s 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 $6,400 plus $2.20 per liter of gelato sold and the actual wages for June were $20,200. Via Gelato expected to sell 6.300 liters in June, but actually sold 6,500 liters Required Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for fa U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Via Gelato Revenue and Spending Variances For the Month Ended June 30 Revenue Expenses: Raw maternals Wages Utiies Rent Insurance Misceaneous Totel expense Net cceraing incone

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions