Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. standard product cost, direct materials variance c

Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs....

80.2K

Verified Solution

Question

Accounting

imageimage

Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (900 pounds) has the following standards: Standard Price $0.46 per lb $ 2.80 per gal 10.20 per gal $ 2.60 per lb Standard Quantity 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 1,600 lbs. of tomatoes 77 gal. of vinegar 8 gal. of corn syrup 31 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 1,500 lbs 80 gal 32 lbs Standard Cost per Batch

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. Find the absolute minimum and maximum value of f(x) = x4 − 18x 2 +...

Basic Math
Q

1. Elevated levels of plasma HDL cholesterol may be associated with lowered risk of coronary heart...

Statistics
Q

In "the repressillator" (also known as "the represilator"), gene A is the Lac repressor. What...

Biology
Q

Violet was given a box of assorted chocolates for her birthday. Each night, Violet treated...

Basic Math
Q

point s possible According to a study conducted by a statistical organization the proportion of...

Statistics
Q

Raner, Harris and Chan is a consulting firm that specializes in information systems for medical...

Accounting
Q

A product has a selling price of $15/unit, fixed costs of $4,100 and variable costs...

Accounting
Q

03 ...

Accounting
Q

Un fabricante produce una radio que recientemente ha recibido miles de quejas. Aparentemente, cuando una...

Accounting
Q

Estrada Corporation produced 211,000 watches that it sold for $20 each. The company determined that...

Accounting
Q

Marla recently inherited $50,000 and is considering two alternatives for investing these funds. Investment A...

Accounting
Q

During these years, XYZ did not create a comprehensive short- and long-term financial plan to...

Accounting