Exercise 8-12A (Static) Responsibility for materials usage variance LO 8-6 Fulton Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow: Fulton actually produced 25,000 baskets. Required a. Determine the materials price variance and indicate whether it is favorable (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)