Question: I need assistance with the materials quantity variance Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that

I need assistance with the materials quantity variance


Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (900 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes Vinegar Corn syrup salt 1,500 lbs. 80 gal. 7 gal. 32 lbs. $ 0.40 per lb. $ 2.40 per gal. $ 8.90 per gal. $ 2.20 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 K-111 were as follows: 1,600 lbs. of tomatoes 77 gal. of vinegar 8 gal. of corn syrup 31 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 Whole tomatoes Vinegar Corn syrup salt -ratal Standard Cost per Batch
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