Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can someone solve this. i asked on chegg but someone put 3 things wrong. the blanks i left blank in the screenshot, i need those
can someone solve this. i asked on chegg but someone put 3 things wrong. the blanks i left blank in the screenshot, i need those answers.
Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,800 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 3,000 lbs. $0.52 per lb. Vinegar 170 gal. 3.20 per gal. Corn syrup 15 gal. 11.60 per gal. Salt 68 lbs. 2.90 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: 3,100 lbs. of tomatoes 163 gal. of vinegar 16 gal. of corn syrup 67 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 1,560 Vinegar 544 Corn syrup 174 Salt 197.20 Standard Cost Ingredient per Batch Whole tomatoes 1,560 Vinegar 544 Corn syrup 174 Salt 197.20 Total $ 2,475.20 Standard unit materials cost per pound 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. Materials Quantity Variance Ingredient Favorable/Unfavorable Whole tomatoes 52 Unfavorable Vinegar Favorable Corn syrup 11.60 Unfavorable Salt Favorable Total direct materials quantity variance 38.30 Unfavorable Feedback
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started