Required Compute variances for the following items and indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Item Actual Variance Effect Budget 658 Sales price $ $ 529 Sales revenue $ 584,000 $ 608,000 $ 391,000 $ 364,000 $ 279,000 $ 286,000 $ 186,000 $ 182,000 920 units 990 units units 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 $ 60,800 $ 59,100 $ 96,400 $ 97,800 $ 26,000 $ 31,000 $ 55,000 $ 44,000