Exercise 15-5A (Algo) 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 (i.e., zero variance).) Variance For U Item 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 $ 662 $ 586,000 $ 394,000 $ 281,000 189,000 lbs 1,010 units $ 61,200 $ 96,600 $ 28,000 $ 58,000 Actual S 531 $ 612,000 S 366.000 $ 289,000 184,000 lbs 930 units S 59,300 S 98,200 S 34.000 S 46,000 lbs units