Standard Product Cost, Direct Materials Variance

Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,200 pounds) has the following standards:

Standard Quantity |
Standard Price |
|||

Whole tomatoes | 3,700 | lbs. | $ 0.51 | per lb. |

Vinegar | 200 | gal. | $ 3.10 | per gal. |

Corn syrup | 17 | gal. | $ 11.30 | per gal. |

Salt | 80 | lbs. | $ 2.80 | 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:

3,800 lbs. of tomatoes |

192 gal. of vinegar |

18 gal. of corn syrup |

79 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 |
Standard Cost per Batch |

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 |
Materials Quantity Variance |
Favorable/Unfavorable |

Whole tomatoes | $ | Unfavorable |

Vinegar | $ | Favorable |

Corn syrup | $ | Unfavorable |

Salt | $ | Favorable |

Total direct materials quantity variance | $ | Unfavorable |

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