Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the hth of June: evenue aw materials ages tilities ent nsurance iscellaneous evenue Fixed Variable Element per Element per Actual Total Month Liter for June $ 16.00 $ 5.05 $ 1.80 $ 0.60 Via Gelato Revenue and Spending Variances For the Month Ended June 30 penses: Raw materials $6,000 $ 2,030 $3,000 $ 1,750 $ 690 ile 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, ges should be $6,000 plus $1.80 per liter of gelato sold and the actual wages for June were $16,900. Via Gelato expected to sell 00 liters in June, but actually sold 6,200 liters. Wages Utilities Rent quired: culate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Insurance Miscellaneous tal expense et operating income 0.75 $ 90,540 $31,630 $ 16,900 $ 6,000 $3,000 $1,750 $ 5,200

Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the hth of June: evenue aw materials ages tilities ent nsurance iscellaneous evenue Fixed Variable Element per Element per Actual Total Month Liter for June $ 16.00 $ 5.05 $ 1.80 $ 0.60 Via Gelato Revenue and Spending Variances For the Month Ended June 30 penses: Raw materials $6,000 $ 2,030 $3,000 $ 1,750 $ 690 ile 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, ges should be $6,000 plus $1.80 per liter of gelato sold and the actual wages for June were $16,900. Via Gelato expected to sell 00 liters in June, but actually sold 6,200 liters. Wages Utilities Rent quired: culate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Insurance Miscellaneous tal expense et operating income 0.75 $ 90,540 $31,630 $ 16,900 $ 6,000 $3,000 $1,750 $ 5,200

Name: Ind Via Gelato is a popular neighborhood gelato shop. The company has
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Description: Ind Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for themonth of June:RevenueRaw materialsWagesUtilitiesRentInsuranceMiscellaneousRevenueExpenses:FixedElement perMonthRaw ma

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 18BEA: Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Refer...

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Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Refer to the information for Pizza Vesuvio on the previous page. Assume that this information was used to construct the following formula for monthly labor cost. TotalLaborCost=5,237+(7.40EmployeeHours) Required: Assume that 675 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. 2. Calculate total labor cost for September.
ces W Actual pounds (q) Revenue ($4.10g) For the Month Ended August 31 Quilcene Oysteria Flexible Budget Expenses: Packing supplies ($0.30q) Oyster bed maintenance ($3,000) Wages and salaries ($2,400 + $0.30q) Shipping ($0.60q) Utilities ($1,270) Other ($470 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries. Shipping Utilities Other Total expense Net operating income 7,200 $ 27,100 2,330 2,860 4,970 4,050 1,080 1,162 16,452 $ 10,648
Aero Travel Trailer Manufacturing is working on budgeting utility cost. The controller has decided that utilities are a function of the hours worked during the month. The following information is available and representative of the company’s utility costs: - Hours worked Utility cost incurred Low point 1,300 $ 903 High point 1,680 1,074 If 1,425 hours are worked in a month, total utility cost (rounded to the nearest dollar) using the high-low method should be Group of answer choices $947. $959. $954. $976.
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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 Variable Element per Actual Total Liter Element per Month for June $ 31.00 $ 6.55 $ 3.30 $ 2.10 $ 191,540 $ 42,830 $ 28,000 $ 17,400 $ 4,500 $ 3,250 $ 14,690 Revenue Raw materials $ 7,500 $ 3,530 $ 4,500 $ 3,250 $ 840 Wages Utilities Rent Insurance Miscellaneous $ 2.25 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 $7,500 plus $3.30 per liter of gelato sold and the actual wages for June were $28,000. Via Gelato expected to sell 6,200 liters in June, but actually sold 6,400 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.)
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