Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (800 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 1,300 lbs $0.40 per lb. Vinegar 2.40 per gal. Corn syrup 6 gal. 8.90 per gal. 28 lbs. 2.20 per lb. 70 gal. 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 00-99 were as follows: 1,400 lbs. of tomatoes 67 gal. of vinegar 7 galof corn syrup 27 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 Ingredient per Batch Whole tomatoes Vinegar Corn syrup Salt Total Standard unit materials cost per pound b. Determine the direct materiais 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 1,400 lbs. of tomatoes 67 gal. of vinegar 7 gal, of corn syrup 27 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 Ingredient per Batch Whole tomatoes Vinegar Corn syrup