Question: Exercise 8-12A Responsibility for materials usage variance LO 8-6 Franklin Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges

Exercise 8-12A Responsibility for materials usage variance LO 8-6 Franklin Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow. Average number of oranges per basket Price per orange Cost of oranges per basket Standard Actual 6.60 7.80 * $0.30 * $0.25 $1.98 $1.95 Franklin actually produced 25,700 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). (For all requirements, Select "None" if there is no effect (i.e., zero variance).) a. Total materials price variance b. Total materials usage variance

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