Required Compute variances for the following items and indicate whether each variance is favorable or unfavorable: Note: Select "None" if there is no effect (i.e., zero variance). Sales price Sales revenue Cost of goods sold Item Material purchases at 5,000 pounds Materials usage Production volume. Wages at 4,000 hours Labor usage at $12 per hour Research and development expense Selling and administrative expenses $ $ $ $ $ $ $ $ Budget 400 $ $ $ $ 360,000 192,500 137,500 90,000 pounds 950 units 30,000 $ 48,000 $ 11,000 $ 24,500 $ Actual 390 390,000 180,000 140,000 89,000 pounds 900 units 29,350 48,500 12,500 20,000 Variance pounds units Effect

Required Compute variances for the following items and indicate whether each variance is favorable or unfavorable: Note: Select "None" if there is no effect (i.e., zero variance)