Managerial Accounting: E9-17 Gelato Supremo is a popular neighborhood gelato shop

Managerial Accounting E9-17
Gelato Supremo 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 July
  Revenue       14.20   79,950 
  Raw materials  4.50   26,210 
  Wages  4,800   1.10   11,250 
  Utilities  1,860   0.10   2,272 
  Rent  3,190   3,190 
  Insurance  1,870   1,870 
  Miscellaneous  510   0.10   1,166 
 
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 $4,800 plus $1.10 per liter of gelato sold, and the actual wages for July were $11,250. Gelato Supremo expected to sell 5,500 liters in July, but actually sold 5,400 liters.
 
Required:
Prepare a report showing Gelato Supremo revenue and spending variances for July. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
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