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$).)$

$\backslash$table$[[$Item$,$Budget,Actual,Variance,$F$ or U$],[$Sales price,$$,528,,$$$,656,,],[$Sales revenue,$$,606,000,,$$$,583,000,,,],[$Cost of goods sold,$$,363,000,,$$$,389,500,,,],[$Material purchases at $5,000$ pounds,$$,284,500,,$$$,278,000,,,],[$Materials usage,,$181,000,$Ibs,,$184,500,$Ibs,lbs$,],[$Production volume,,$915,$units,,$980,$units,units ${?}^5,],[$Wages at $4,000$ hours,$$,59,000,,$$$,60,600,,,],[$Labor usage at $$16$ per hour,$$,97,600,,$$$,96,300,,,],[$Research and development expense,$$,29,500,,$$$,25,000,,,],[$Selling and administrative expenses,$$,43,000,,$$$,53,500,,,]]$