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 Variance For U 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 516 per hour Research and development expense Selling and administrative expenses Budget $ 527 $ 604,000 $362,000 $ 283,000 180,000 lbs 910 units 5 58.900 507400 $ 28,000 $ 42000 Actual $ 654 $ 582,000 $ 388,000 $ 277,000 183,000 lbs 970 units $ 60.400 $ 06.200 $ 24,000 $ 52.000 ibs units