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 Foru 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 Actual $ 656 $ 528 $ 583.000 $ 606,000 $ 389,500 5 363.000 $ 278,000 $ 284,500 184,500 lbs 181,000 lbs 980 units 915 units $ 60,600 $ 59,000 $ 96,300 $ 97,600 $ 25,000 $ 29.500 $ 53,500 $ 43.000 bs units