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H . J . Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup pounds ) has the following standards:
HJ Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup pounds has the following standards:
tableStandard Quantity,Standard PriceWhole tomatoes,$ per lbVinegargal., per gal.Corn syrup, gal., per gal.Salt 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 were as follows:
lbs of tomatoes
gal. of vinegar
gal. of corn syrup
lbs of salt
a Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent.
tableIngredienttableStandard Costper BatchWhole tomatoes,VinegarCorn syrup,Salt$
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