Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): Note: Select "None" if there is no effect (i.e., zero variance). Item Budget Actual Variance Effect Sales price $ 668 $ 534 Sales revenue $ 589,000 SA $ 618,000 Cost of goods sold $ 398,500 $ 369,000 Material purchases at 5,000 pounds $ 284,000 $ 293,500 Materials usage $ 193,500 $ 187,000 Production volume 1,040 units 945 units units Wages at 4,000 hours $ 61,800 $ 59,600 Labor usage at $16 per hour $ SA 96,900 $ 98,800 Research and development expense $ 31,000 $ 38,500 Selling and administrative expenses $ SA 62,500 $ 49,000