Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (2,900 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes Vinegar Corn syrup Salt 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 5,000 lbs. of tomatoes 259 gal. of vinegar 24 gal. of corn syrup 107 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. 4,800 lbs 270 gal 23 gal 108 lbs $0.45 per Ib 2.7 per gal 10 per gal 2.5 per lb Ingredient 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 Whole tomatoes Vinegar Corn syrup Salt Total direct materials quantity variance Standard Cost per Batch Materials Quantity Variance Favorable/Unfavorable