Exercise 8-11A (Algo) Determining materials price and usage variances LO 8-6 Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Standard 7.60 Actual 8.00 Cost of roses per arrangement x $0.75 $5.70 * $0.70 $5.60 Monique's Florals planned to make 845 arrangements but actually made 980. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U) d. Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance.