3 Exercise 8-3A Determining amount and type (favorable vs. unfavorable) of variance LO 8-2 8.33 points Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Item eBook Sales price S Budget 532 Actual Variance Effect $ 664 Sales revenue $ 614,000 $ 587,000 Cost of goods sold $ 367,000 $ 395,500 Print Material purchases at 5,000 pounds $ 290,500 $ 282,000 Materials usage $ 185,000 $ 190,500 References Production volume 935 units 1,020 units units Wages at 4,000 hours $ 59,400 $ 61,400 Labor usage at $10 per hour $ 98,400 $ 90.700 Research and development expense Selling and administrative expenses $ 35,500 $ 29,000 $ 47,000 $ 59,500 Check my