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 Cost of roses per arrangement Standard 7.60 x $0.75 $5.70 Actual 8.00 x $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. Complete this question by entering your answers in the tabs below. Req A to C Req D Determine the total flexible budget materials variance, materials price variance and materials usage variance. Indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance). Round your answers to 2 decimal places.) a. Total flexible budget materials variance b. Total materials price variance c. Total materials usage variance Ren AtoC ReqD 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 Cost of roses per arrangement Standard 7.60 x $0.75 $5.70 Actual 8.00 x $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. Complete this question by entering your answers in the tabs below. Req A to C Reg 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. (Select "None" if there is no effect (i.e., zero variance). Round your answers to 2 decimal places.) Price variance Usage variance Total variance