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).) Item Budget Actual Variance Effect Sales price 526 652 Sales revenue $ 581,000 $ 386,500 Cost of goods sold Material purchases at 5,000 pounds 602,000 361,000 281,500 179,000 $ $ 276,000 181,500 Materials usage $ $ U Production volume 905 units 960 units units F $ $ 60,200 None $ $ 96,100 Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses 58,800 97,200 26,500 41,000 $ 23,000 50,500 $ $