Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,700 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 4,500 lbs. $ 0.46 per lb. Vinegar 250 gal. $ 2.80 per gal. Corn syrup 22 gal. $ 10.20 per gal. Salt 100 lbs. $ 2.60 per Ib. 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: 4,700 lbs. of tomatoes 240 gal. of vinegar 23 gal. of corn syrup 99 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 HII 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. Ingredient Materials Quantity Variance Favorable/Unfavorable 4,700 lbs. of tomatoes 240 gal. of vinegar 23 gal, of corn syrup 99 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-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 Vinegar Corn syrup Salt Total direct materials quantity variance