Exercise 8-12A (Algo) Responsibility for materials usage variance LO 8-6 Walton Frult Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow. Walton actually produced 26,800 baskets. Required a. Determine the materials price variance and indicate whether it is fovorable (F) or unfavorable (U). b. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). Note: For all requirements, Select "None" if there is no effect (i.e., zero variance)