Via Gelato 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 June
Revenue $30.00 $190,540
Raw materials $6.45 $42,930
Wages $7,400 $3.20 $28,400
Utilities $3,430 $2.00 $17,300
Rent $4,400 $4,400
Insurance $3,150 $3,150
Miscellaneous $830 $2.15 $14,390
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 $7,400 plus $3.20 per liter of gelato sold and the actual wages for June were $28,400. Via Gelato expected to sell 6,400 liters in June, but actually sold 6,600 liters.
Required:
Write the report showing Via Gelato revenue and spending variances for June.
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Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concer...
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