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.) Budget 660 585,000 $ 392,500 S 280,000 $187,500 Item Actual 530 S 610,000 $ 365,000 $ 287,500 $ 183,000 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 1,000 un 925 units un S 61,000 S 96,500 $ 27,000 $ 56,500 $ 59,200 S 98,000 $ 32,500 $ 45,000