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 Actual 530 S Budget 660. $ 585,000 $ 392,500 $ 280,000 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 $ 187,500 1,000 units 61,000 96,500 27,000 56,500 $ 610.000 $ 365,000 $ 287,500 $ 183,000 925 units $ 59,200 98,000 $ 32,500 $ 45,000 $