Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable(U). tem

Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable(U).

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tem Budget Actual Variance For U $780 $720,000 $780,000 $385,000 $360,000 $280,000 S180,000 $178,000 950 units 900 units $60,000 $58,700 $96,000 $97,000 $25,000 $40,000 Sales price Sales revenue $800 Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses $275,000 $22,000 $49,000