Standard Product Cost, Direct Materials Variance

H$.$J$.$ Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup $(2,000$ pounds$)$ has the following standards:

Standard Quantity Standard Price

$\backslash$table$[[$Whole tomatoes,$3,300lbs.,$$$0\mathrm{.}38$ per lb$.],[$Vinegar$,190$gal.,$2\mathrm{.}3$ per gal.$],[$Corn syrup,$16$gal.,$8\mathrm{.}4$ per gal.$],[$Salt$,76lbs.,2\mathrm{.}1$ 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:

$3,400lbs.$ of tomatoes

$182$gal. of vinegar

$17$ gal, of corn syrup

$75$ 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

Ingredient

Whole tomatoes

Vinegar

Corn syrup

Salt

Total

Standard unit materials cost per pound

Cost

per Batch

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