Perfect Pet Colar Company makes custom leather pet colars The company expects each collar to reoure 2.40 feet of leather and predicts leather will cost $4.30 per foot Suppose Perfect Pet made 90 collars during February For these 90 colars the company achualy averaged 2 60 feet of leather per collar and paid 53.90 per foot Requiredt 2. without performg any calcutatons, determine whether the direct materials price variance w be favorable or unfavorable caiculstons, deterimne whether the direct materials quantity variance wll be favorable or unfavorabke calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecthing " tor favorable, "U" for 1023 PM