H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,500

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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:

a. Determine the standard unit materials cost per pound for a standard batch.b. Determine the direct materials quantity variance for batchK103.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Sep 05, 2011 07:50 AM

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H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,500

Question:

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

Step by Step Answer:

a b Whole tomatoes Vinegar Corn syrup Salt ...View the full answer

Accounting

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