Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,200 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes Vinegar Corn syrup Salt 2,000 lbs. $ 0.37 per lb. 110 gal. $ 2.30 per gal. 9 gal. $ 8.20 per gal. 44 lbs. $ 2.10 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-111 were as follows: 2,100 lbs. of tomatoes 106 gal. of vinegar 10 gal. of corn syrup 43 lbs. of salt