Perez Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow. Standard Actual Average number of oranges per basket 7.80 8.60 Price per orange $ 0.30 $ 0.25 Cost of oranges per basket $ 2.34 $ 2.15 Perez actually produced 26,100 baskets. Required Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U)