Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (2,800 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 4,700 lbs. $ 0.46 per lb. Vinegar 260 gal. 2.8 per gal. 22 gal. 10.2 per gal. Salt 104 lbs. 2.6 per lb. Corn syrup 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: 4,900 lbs. of tomatoes 250 gal. of vinegar 23 gal. of corn syrup 103 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 $ Favorable Whole tomatoes $ Favorable Vinegar Corn syrup Salt $ Favorable $ Favorable Total direct materials quantity variance $ Favorable more Check My Work uses remaining