Exercise 15-5 Determining amount and type (favorable vs. unfavorable) of variance LO 15-3 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 fi.e., zero variance).) Variance Effect Sales price Sales revenue Cost of goods sold 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 Budget $ 668 $ 589,000 $ 398,500 $ 284,000 $ 193,500 1,040 units $ 61,800S $ 96,900 $ 31,000 $ 62,500S Actual $ 534 $ 618,000 $ 369,000 S 293,500 L $ 187,000 9 45 units 59,600 $ 98,800 38,500 49,000 / / / / 7 / TL / search