Required Compute variances for the following items and indicate the effect of each variance by selecting favorable () or unfavorable (U). (Select "None" if there is no effect (.e., zero variance).) Variance Effect 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 $ 658 $ 584,000 $ 391,000 $ 279,000 $ 186,000 990 units $ 60,800 $ 96,400 S 26,000 $ 55,000 $ $ Actual 529 608,000 364,000 286,000 182,000 920 units 59,100 97,800 31,000 44.000 $ $