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 Budget Actual Variance Effect $ 686 $ 588.000 $ 616,000 $ 368,000 $ 397,000 $ 283.000 $ 192.000 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 1,030 units $ 61.bpol $ 186,000 940 units $ 59,500 $ 98,600 $ 37,000 $ 48,000 $ $ $ 96,800 30,000 61,000