Question: H.J. 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

H.J. 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 K103 were as follows:2,600 lbs. of tomatoes135 gal. of vinegar13 gal. of corn syrup55 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 K103.

Standard Price $ 0.45 per Ib. 2.75 per gal. 10.00 per gal. 2.50 per Ib. Standard Quantity 2,500 Ibs. 140 gal. 12 gal. 56 Ibs. Whole tomatoes Vinegar Corn syrup Salt

Step by Step Solution

★★★★★

3.36 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a b Whole tomatoes Vinegar Corn syrup Sa... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

59-B-M-A-S-C (188).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

During 2020, you were hired as the Chief Financial Officer for MC Travel Inc., a fairly young travel company that is growing quickly. A key accounting staff member has prepared the financial...

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...

H. J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,880 pounds) has the following standards: The actual materials in a batch may vary from the...

The Worldwide Credit Card, Inc. , uses standards to control the labor time involved in opening mail from card holders and recording the enclosed remittances. Incoming mail is gathered into batches,...

Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup ( 1,700 pounds) has the following standards: The...

Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (2,600 pounds) has the following standards: Whole...

Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (2,800 pounds) has the following standards: Standard...

Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,000 pounds) has the following standards: Standard...

1. EX.23.01.ALGO eBook Show Me How Question Content Area Standard Direct Materials Cost per Unit Truly Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars...

Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (6,000 pounds) has the following standards: Standard...

Standard Product Cost, Direct Materials Variance H . J . Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup ( 1 , 6 0 0 pounds ) has the following standards:...

Fill in the blanks, using either affect or effect. a.* The amount of overtime and the time of day had a significant __________ on accidents in the workplace. b.* The amount of overtime and the time...

What is solvency ? Which ratios are useful for measuring solvency and what does each measure?

Required Classify the resources in each of the above situations as flexible or committed. If theresource is committed, determine whether it is committed for the short term orcommitted for multiple...

Rock Paper Scissors is a guessing game played between two people, Player 1 (P1) and Player 2 (P2). Each player has three buttons, namely rock, paper, and scissors. The player makes a choice among the...

In December 2017, after years of opposition, dismissal and resistance by the Federal Coalition Government and the Australian financial sector, a Royal Commission into Misconduct in the Banking,...

Q No. 1 Sarfaraz Ahmed is negotiating sports employment contract. His opportunity cost is 12%. He has been offered three possible 4-year contracts. Payments are in Pakistani rupees and are...

A curve segment has the following four control points A(4,8) B(7,9), C(8,1), and D(10,4). The slopes at the two end points A(4,8) and D (10,4) are 45 o and 75 o , respectively, with a magnitude of 8....

A universal auto-steer system costs $6500. When used for primary tillage, it can reduce the overlap of a tandem disk from 2 ft. to 0.5 ft. on a 30 ft. implement. How many acres are required to...

For the receiver of a message to respond in the manner desired by the sender, the receiver needs to a. Remember the message b. Be able to respond to the message c. Have the motivation to respond to...

Selected financial information for Atwell Company for 2009 follows. Sales ........ $ 1,500,000 Cost of goods sold ... 1,200,000 Merchandise inventory Beginning of year ..... 180,000 End of year...

Carlos, Incorporated, provided $86,000 of services during 2010. All customers paid for the services with major credit cards. Carlos turned the credit card receipts over to the credit card company...

Taylor Company accepted credit cards in payment for $7,250 of merchandise sold during March 2010. The credit card company charged Taylor a 3 percent service fee. The credit card company paid Taylor...

Question 9 (10 points) Company XYX plans to purchase five new forklifts for the warehouse. Who are the members of the buying center in this situation? Explain your choices. Paragraph BI U

A is a trading platform on a computer website that allows investors to trade stocks without the use of a broker. O direct access broker O program trader O market maker O communication network

A cellular company purchased $26,600 in cell phones on April 25 . The terms of sale were (4)/(20),(3)/(30),(n)/(60) . Freight terms were F.O.B. destination. Returned goods amounted to $650 .\ (a)...