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. $0.48 per lb. Vinegar 240 gal. 2.90 per gal. Corn syrup 21 gal. 10.70 per gal. Salt 96 lbs. 2.70 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 08-99 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. Standard Cost Ingredient per Batch Whole tomatoes 2,064 Vinegar 696 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 $ 2,064 Vinegar 696 Corn syrup 224.7 Salt 259.2 Total $ 3,243.9 Standard unit materials cost per pound 643.9 X b. Determine the direct materials 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. Materials Quantity Variance Ingredient Favorable/Unfavorable Whole tomatoes $ 96 Unfavorable Vinegar -27 Favorable Corn syrup 10.70 Unfavorable Salt -2.7 Favorable Total direct materials quantity variance $ 77 X Unfavorable