Exercise $8-3$A $($Static$)$ Determining amount and type $($favorable vs$.$ unfavorable$)$ of variance LO $8-2$

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$).$

$\backslash$table$[[$Item$,$Budget,Actual,Variance,Effect$],[$Sales price,$$,400,$$$,390,,],[$Sales revenue,$$,360,000,$$$,390,000,,],[$Cost of goods sold,$$,192,500,$$$,180,000,,],[$Material purchases at $5,000$ pounds,$$,137,500,$$$,140,000,,],[$Materials usage,$$,90,000,$$$,89,000,,],[$Production volume,$950,$units,$900,$units,units,$],[$Wages at $4,000$ hours,$$,30,000,$$$,)29,350,,],[$Labor usage at $$12$ per hour,$$,48,000,$$$,48,500,,],[$Research and development expense,$$,11,000,$$$,12,500,,],[$Selling and administrative expenses,$$,24,500,$$$,20,000,,]]$