1. Standard Product Cost, Direct Materials Variance

   Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,400 pounds) has the following standards:

   	Standard Quantity		Standard Price
   Whole tomatoes	4,000	lbs.	$ 0.37	per lb.
   Vinegar	220	gal.	$ 2.30	per gal.
   Corn syrup	19	gal.	$ 8.20	per gal.
   Salt	88	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:

   4,200 lbs. of tomatoes

   211 gal. of vinegar

   20 gal. of corn syrup

   87 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	$fill in the blank 1
   Vinegar	$fill in the blank 2
   Corn syrup	$fill in the blank 3
   Salt	$fill in the blank 4
   Total	$fill in the blank 5
   Standard unit materials cost per pound	$fill in the blank 6

   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.

   Ingredient	Materials Quantity Variance	Favorable/Unfavorable
   Whole tomatoes	$fill in the blank 7
   Vinegar	$fill in the blank 9
   Corn syrup	$fill in the blank 11
   Salt	$fill in the blank 13
   Total direct materials quantity variance	$fill in the blank 15