(I posted this question earlier but the answer came back incorrect - can you ple

Question

(I posted this question earlier but the answer came back incorrect - can you please show the work so I can understand how you got to the answere? thank you very much )

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

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 $5,700 plus $1.50 per liter of gelato sold and the actual wages for June were $14,560. Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters.

Required:

Complete the report showing 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.)

Fixed
Element
per Month Variable
Element
per Liter Actual
Total for
June Revenue $ 13.00 $ 72,540 Raw materials $ 4.75 $ 30,330 Wages $ 5,700 $ 1.50 $ 14,560 Utilities $ 1,730 $ 0.30 $ 3,800 Rent $ 2,700 $ 2,700 Insurance $ 1,450 $ 1,450 Miscellaneous $ 660 $ 0.45 $ 2,990

Explanation / Answer

Revenue and spending variance :

Revenue 8060 U Expense Raw material 880 U Wages 440 F Utilities 210 U Rent None Insurance None Miscellaneous 460 F Total expense 190 U Net operating income 8250 U

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