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 (.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 $16 per hour Research and development expense Selling and administrative expenses Budget $ 668 $ 589,000 $ 398,500 $ 284,000 $ 193,500 1,040 units $ 61,800 $ 96,900 $ 31,000 $ 62,500 Actual $ 534 $ 618,000 $ 369,000 $ 293,500 $ 187,000 945 units $ 59,600 $ 98,800 $ 38,500 $ 49,000