Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" there is no effect i.e., zero variance).) Item Actual Variance For U $ 534 Sales price Sales revenus Cost of goods sold Material purchases 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 $ 668 $ 589,000 $ 398,500 $ 284,000 193,500 lbs 1040 units $ 61.800 $ 96,900 $31.000 $ 62.500 $ 618,000 $ 369,000 $ 293,500 187,000 lbs 945 units $ 59,600 $ 98,800 s 38,500 5 49,000 lbs units