Exercise 8-12A (Algo) Responsibility for materials usage variance LO 8-6 Gibson Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow. Gibson actually produced 25,800 baskets. Required a. Determine the materials price variance and indicate whether it is favorable (F) or unfovorable (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)