Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): Note: Select "None" if there is no effect (le, zero variance). Item Budget Actual Variance Bales price 658 $ 529 Sales revenue $ 584,000 $ 608,000 Cost of goods sold 391,000 $ 364,000 Material purchases at 5,000 pounds $ 279,000 $ 286,000 Materials usage 186,000 $ 182,000 Production volume: 990 units 920 units units Wages at 4,000 hours 60,800 $ 59,100 Labor usage at $16 per hour $ 96,400 $ 97,800 Research and development expense $ 26,000 $ 31,000 Selling and administrative expenses $ 55,000 $ 44,000 Effect