Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,300 pounds) has the following standards:

	Standard Quantity	Standard Price
Whole tomatoes	3,800	lbs.	$0.48	per lb.
Vinegar	210	gal.	2.90	per gal.
Corn syrup	18	gal.	10.70	per gal.
Salt	84	lbs.	2.70	per lb.

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:

4,000 lbs. of tomatoes

202 gal. of vinegar

19 gal. of corn syrup

83 lbs. of salt

a.  Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent.

Ingredient	Standard Cost per Batch
Whole tomatoes	$
Vinegar
Corn syrup
Salt
Total	$
Standard unit materials cost per pound	$

b.  Determine the direct materials quantity variance for batch K-111 If required, round amounts to the nearest cent. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Ingredient	Materials Quantity Variance	Favorable/Unfavorable
Whole tomatoes	$
Vinegar
Corn syrup
Salt
Total direct materials quantity variance	$

Answer rating: 100% (QA)

Ingredients Standard Price Standard quantity Standard Cos... View the full answer