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

Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control

I need assistance with the materials quantity variance

its materials costs. Assume that a batch of ketchup (900 pounds) hasthe following standards: Standard Quantity Standard Price Whole tomatoes Vinegar Corn syrup

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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