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Condiments Company uses standards to control its material costs. Assume that a batch of ketchup (2,900 lbs) has the following standards: Condiments Company uses standards

Condiments Company uses standards to control its material costs. Assume that a batch of ketchup (2,900 lbs) has the following standards: image text in transcribed
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Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,900 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 4,800 lbs. $ 0.35 per lb. Vinegar 270 gal $ 2.10 per gal. Corn syrup 23 gal. $ 7.80 per gal. 108 lbs. $ 1.90 per 1b. 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: 5,000 lbs. of tomatoes Salt 259 gal. of vinegar 24 gal. of corn syrup 107 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 Vinegar Corn syrup Salt Total Check My Work All work saved Save and Exit Submit Assignment for Grading 259 gal or Vinegar 24 gal. of corn syrup 107 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 Vinegar Corn syrup Salt Total DI Standard unit materials cost per pound b. Determine the direct materials quantity variance for batch K-111. 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 Vinegar Corn syrup WHIT Salt Total direct materials quantity variance

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