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H . J . ?Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup ( 1 , 7 0 0
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:
?of tomatoes
gal. of vinegar
gal. of corn syrup
?of salt
a ?Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent.
Standard Cost
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