H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (7,650
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H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (7,650 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 08-99 were as follows:
4,900 lbs. of tomatoes
375 gal. of vinegar
36 gal. of corn syrup
140 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 08-99.
Transcribed Image Text:
Standard Price $0.75 per Ib. 0.90 per gal. 7.50 per gal. 1.80 per Ib. Standard Quantity 5,000 lbs. 350 gal. 40 gal. 125 Ibs. Whole tomatoes Vinegar Corn syrup Salt
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Related Book For
Forensic And Investigative Accounting
ISBN: 9780808056300
10th Edition
Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton
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