Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs....
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Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,000 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 1,700 lbs. $ 0.43 per lb. 90 gal.$ 2.60 per gal. 8 gal. $ 9.60 per gal 36 lbs.$2.40 per lb. 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: 1,800 lbs. of tomatoes 86 gal. of vinegar 9 gal. of corn syrup 35 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts t nearest cent. Ingredient Whole tomatoes Vinegar Standard Cost per Batch ) Check My Work Next rier Email Instructor Save and Exit Submit Assignment for Grading MacBook Pro
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