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Required Compute variances for the following items and indicate whether each variance is favorable or unfavorable: Note: Select None if there is no effect (

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Compute variances for the following items and indicate whether each variance is favorable or unfavorable: Note: Select "None" if there is no effect (i.e., zero variance).
\table[[Item,Budget,Actual,Variance,Effect],[Sales price,$,664,$,532,],[Sales revenue,$,587,000,$,614,000,,],[Cost of goods sold,$,395,500,$,367,000,,],[Material purchases at 5,000 pounds,$,282,000,$,290,500,,],[Materials usage,190,500,pounds,185,000,pounds,pounds,],[Production volume,1,020,units,935,units,units,],[Wages at 4,000 hours,$,61,400,$,59,400,,],[Labor usage at $16 per hour,$,96,700,$,98,400,,],[Research and development expense,$,29,000,$,35,500,,],[Selling and administrative expenses,$,59,500,$,47,000,,]]
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