teractive HW video eBook Show Me How Calculator Print Item Standard Product Cost, Direct Materials Variance 01 ALGO -02 ALGO 03. ALGO 104 ALGO 3-05 ALGO HJ. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (2,300 pounds) has the following standards: Standard Quantity Standard Price whole tomatoes 3,800 lbs. $ 0.48 per lb. Vinegar 210 gal. 2.9 per gal Corn syrup 18 gal 10.7 per gal Salt 84 lbs. 2.7 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: 4,000 lbs. of tomatoes 202 gal. of vinegar 19 gal of com syrup 83 lbs. of salt 3-01.ALGO 3-02 ALGO 3-03.ALGO 23-04. ALGO 23-05 ALGO .. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the hearest cent Ingredient Standard Cost per Batch 23-07 ALGO whole tomatoes 1,824 23-08.ALGO Vinegar 600 (23-09. ALGO Com syrup 192.6 23-10 ALGO Salt 226.8 X23-14. ALGO Total $ 2,852.4 Standard unit materials cost per pound 124 X 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 Whole tomatoes -048.5 X Favorable x Vinegar 1,157.1 x Favorable Com syrup 1,868.22 X Unfavorable Selt 385.6 X Favorable Total direct materials quantity variance 2.462.42 X Unfavorable Unfavorable variances can be thought of as increasing costs (a debit). Favorable variances can be thought of as decreasing costs (a credit) The direct material cost variance is the difference between the actual and standard material cost rogress: 11/15 items Check My Work 1 more Check My Work uses remaining Previous Next > signment Score: 71.61% All work saved Save and Exit Submit Anment for Grading Type here to search DI FP