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).) V ariance Effect $ $ Item 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 $ $ $ $ $ Budget 527 604,000 362,000 283,000 180,000 910 units 58,900 97,400 28,000 42,000 $ Actual 654 582,000 388,000 277,000 183,000 970 unitsi 60,400 96,200 24,000 52,000 units $ $ $ $ $ $ $ $