apter 22 Performance Evaluation Using variances from Standard Costs OBJ, 2, 3 EX 22-7 Standard product cost, direct materials variance Assume that a batch of HJ. Heinz Company uses standards to control its materials costs. ketchup (3,128 pounds) has the following standards: Standard Quantity Standard Price 0.60 per lb. Whole tomatoes 4,000 lbs. 2.25 per gal. 260 gal. Vinegar 28.00 per gal. 25 gal. Corn syrup 2.25 per lb. 100 lbs. Salt 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: 4,250 lbs. of tomatoes 275 gal. of vinegar 22 gal. of corn syrup 90 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. b. the direct materials quantity variance for batch K-111. Round your answer to the nearest cent