HJ. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,500
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HJ. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,500 pounds) has the following standards:
The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch K-54 were as follows:2,540 lbs. of tomatoes164 gal, of vinegar13 gal, of corn syrup60 lbs. of salt(a) Determine the standard unit materials cost per pound for a standard batch.(b) Determine the direct materials quantity variance for batch K-54.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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