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 Effect $ 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 $12 per hour Research and development expense Selling and administrative expenses Budget $ 400 $ 360,000 $ 192,500 $ 137,500 $ 90,000 950 units $ 30,000 $ 48,000 $ 11,000 $ 24,500 Actual $ 390 $ 390,000 $ 180,000 $ 140,000 $ 89,000 900 units 29,350 48,500 12,500 20,000 units