Standard Product Cost, Direct Materials Variance 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 0.37 per lb. Whole tomatoes 4,800 lbs. 270 gal $2.30 per gal Vinegar $ 8.20 per gal 23 gal Corn syrup 108 lbs $2.10 per lb. 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: 5,000 lbs. of tomatoes 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. Standard Cost per Batch Ingredient Whole tomatoes Vinegar Corn syrup $1 Salt Total 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. Materials Quantity Variance Favorable/Unfavorable Ingredient Whole tomatoes Vinegar Corn syrup Salt Total direct materials quantity variance