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 For U Sales price $ 526 $ 652 Sales revenue Cost of goods sold Material purchases at 5,000 pounds $ 602,000 $ 361,000 $ 281,500 179,000 lbs $ 581,000 $ 386,500 $ 276,000 181,500 lbs Materials usage Ibs Production volume 905 units 960 units units A 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 $ 60,200 $ 96,100 $ 23,000 $ 50,500