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 Budget Actual Variance Effect Sales price Sales revenue $ 400 $ 390 $ 360,000 $ 390,000 $ 192,500 $ 137,500 $ 90,000 Cost of goods sold $ 180,000 Material purchases at 5,000 pounds $ 140,000 Materials usage $ 89,000 Production volume Wages at 4,000 hours 950 units 900 units units $ 30,000 $ 48,000 $ 29,350 Labor usage at $12 per hour $ 48,500 Research and development $ 11,000 $ 12,500 expense Selling and administrative expenses 24,500 $ 20,000 %24 %24 %24 %24