Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,500 pounds) has the following standards: Whole tomatoes Vinegar Corn syrup Salt Standard Quantity Standard Price 2,500 lbs. $0.46 per lb. 140 gal. 2.80 per gal. 12 gal. 56 lbs. 10.20 per gal. 2.60 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 08-99 were as follows: 2,600 lbs. of tomatoes 134 gal. of vinegar 13 gal. of corn syrup 55 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 Whole tomatoes Vinegar Corn syrup Salt Total Standard unit materials cost per pound Standard Cost per Batch 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. Unit materials cost per pound 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. Ingredient Whole tomatoes Vinegar Corn syrup Salt Total direct materials quantity variance Materials Quantity Variance $ Favorable/Unfavorable