Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs Assume that a batch of ketchup (2,600 pounds) has the following standards Standard Quantity Standard Price Whole tomatoes 4,300 lbs $ 0 53 per lb Vinegar 240 gal 3 20 per gal Corn syrup 21 gal 11 80 per gal Salt 96 lbs 2 90 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 K 54 were as follows 4,500 lbs of tomatoes 230 gal of vinegar 22 gal of corn syrup 95 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 $ Standard unit materials cost per pound $ b Determine the direct materials quantity variance for batch K 54 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 $ SelectFavorableUnfavorable Vinegar $ SelectFavorableUnfavorable Corn syrup $ SelectFavorableUnfavorable Salt $ SelectFavorableUnfavorable Total direct materials quantity variance $ SelectFavorableUnfavorable

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Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,600 pounds) has the

Standard Product Cost, Direct Materials Variance

Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,600 pounds) has the following standards:

	Standard Quantity		Standard Price
Whole tomatoes	4,300	lbs.	$ 0.53	per lb.
Vinegar	240	gal.	3.20	per gal.
Corn syrup	21	gal.	11.80	per gal.
Salt	96	lbs.	2.90	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 K-54 were as follows:

4,500 lbs. of tomatoes

230 gal. of vinegar

22 gal. of corn syrup

95 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	$
Standard unit materials cost per pound	$

b. Determine the direct materials quantity variance for batch K-54. 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	$	SelectFavorableUnfavorable
Vinegar	$	SelectFavorableUnfavorable
Corn syrup	$	SelectFavorableUnfavorable
Salt	$	SelectFavorableUnfavorable
Total direct materials quantity variance	$	SelectFavorableUnfavorable