Standard Product Cost, Direct Materials Variance
Condiments Company uses standards to control its materialscosts. Assume that a batch of ketchup (2,700 pounds) has thefollowing standards:
| Standard Quantity | Standard Price |
| Whole tomatoes | 4,500 | lbs. | $ 0.53 | per lb. |
| Vinegar | 250 | gal. | $ 3.20 | per gal. |
| Corn syrup | 22 | gal. | $ 11.80 | per gal. |
| Salt | 100 | lbs. | $ 2.90 | per lb. |
The actual materials in a batch may vary from the standard dueto tomato characteristics. Assume that the actual quantities ofmaterials for batch K-111 were as follows:
| 4,700 lbs. of tomatoes |
| 240 gal. of vinegar |
| 23 gal. of corn syrup |
| 99 lbs. of salt |
a. Determine the standard unit materials costper pound for a standard batch. If required, round amounts to thenearest cent.
| Ingredient | Standard Cost per Batch |
| Whole tomatoes | $ |
| Vinegar | $ |
| Corn syrup | $ |
| Salt | $ |
| Total | $ |
| Standard unit materials cost per pound | $ |
b.  Determine the direct materialsquantity variance for batch K-111. If required, round amounts tothe nearest cent. Enter a favorable variance as a negative numberusing a minus sign and an unfavorable variance as a positivenumber.
| Ingredient | Materials Quantity Variance | Favorable/Unfavorable |
| Whole tomatoes | $ | |
| Vinegar | $ | |
| Corn syrup | $ | |
| Salt | $ | |
| Total direct materials quantity variance | $ | |
