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 Effect Actual 530 $ $ $ $ Budget 660 585,000 392,500 280,000 187,500 1.000 units 61.000 A A A A A $ $ $ 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 $16 per hour Research and development expense Selling and administrative expenses F 610,000 365,000 287,500 183.000 925 units 59,200 98,000 32,500 45,000 units None $ $ $ $ $ 96,500 27,000 56.500 $ $ $