Standard Product Cost, Direct Materials Variance

H$.$J$.$ Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup $(1,600$ pounds$)$ has the following standards:

Ingredient Standard Quantity Standard Price

Whole tomatoes $2,700$ lbs$.$ $$0\mathrm{.}54$ per lb$.$

Vinegar $150$ gal. $3\mathrm{.}30$ per gal.

Corn syrup $13$ gal. $12\mathrm{.}00$ per gal.

Salt $60$ lbs$.3\mathrm{.}00$ 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:

$2,800$ lbs$.$ of tomatoes

$144$ gal. of vinegar

$14$ gal. of corn syrup

$59$ 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 $fill in the blank $1$

Vinegar fill in the blank $2$

Corn syrup fill in the blank $3$

Salt fill in the blank $4$

Total $fill in the blank $5$

Standard unit materials cost per pound $fill in the blank $6$

b$.$ Determine the direct materials quantity variance for batch $08-99.$ 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 $fill in the blank $7$

Vinegar fill in the blank $9$

Corn syrup fill in the blank $11$

Salt fill in the blank $13$

Total direct materials quantity variance $fill in the blank $15$