Required Compute variances for the following items and indicate whether there is no effect (i.e., zero variance).) variance is favorable (F) or unfavorable (U): (Select "None" if Variance Effect Actual 526 s / Budget $ 652 $ 581,000 $ 386,500 $ 276.000 / 000 / Item Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage s Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses III 905 $ 60,200 96,100 $ 23,000 $ 50,500 58,800 97,200 26,500 41,000 Solomon Educational Services had budgeted its training service charge at $66 per hour. The company planned to provide 23.000 hours of training services during 2019. By lowering the service charge to $55 per hour, the company was able to increase the actual number of hours to 25,000 Required a. Determine the sales volume variance, and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) b. Determine the flexible budget variance, and indicate whether it is favorable (F) or unfavorable (U). (Select "None" If there is no effect (i.e., zero variance).) c. Did lowering the price of training services increase revenue? Variance a. Volume variance b. Flexible budget variance c. Was the decision profitable