Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,400 pounds) has the following standards:   Standard Quantity Standard Price Whole tomatoes 4,000 lbs. $ 0.46 per lb. Vinegar 220 gal. $ 2.80 per gal. Corn syrup 19 gal. $ 10.20 per gal. Salt 88 lbs. $ 2.60 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: 4,200 lbs. of tomatoes 211 gal. of vinegar 20 gal. of corn syrup 87 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 $fill in the blank 1 Vinegar $fill in the blank 2 Corn syrup $fill in the blank 3 Salt $fill in the blank 4 Total $fill in the blank 5 Standard unit materials cost per pound $fill in the blank 6 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 $fill in the blank 7 Unfavorable Vinegar $fill in the blank 9 Favorable Corn syrup $fill in the blank 11 Unfavorable Salt $fill in the blank 13 Favorable Total direct materials quantity variance $fill in the blank 15 Unfavorable

Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,100 pounds) has the following standards: Whole tomatoes Vinegar Corn syrup Salt 3,600 lbs. of tomatoes 192 gal. of vinegar 18 gal. of corn syrup 79 lbs. of 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 08-99 were as follows: Ingredient Whole tomatoes Vinegar Corn syrup a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. Salt Standard Quantity 3,500 lbs. 200 gal. 17 gal. 80 lbs. Total Standard unit materials cost per pound Ingredient Standard Price $0.52 per lb. Whole tomatoes 3.20 per gal. 11.60 per gal. 2.90 per lb. b. Determine the direct materials quantity variance for batch 08-99. If required, round amounts to the nearest cent. Enter a favorable variance as a…

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Neighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs:   Rate Hour per unit Standard $15.60 0.80 Actual  $17.00 0.60 Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units. Determine the direct labor cost variance. Group of answer choices $13,680 unfavorable -$18,720 favorable $18,720 unfavorable -$13,680 favorable

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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 (1,800 pounds) has the following standards:   Standard Quantity Standard Price Whole tomatoes 3,000 lbs. $0.51 per lb. Vinegar 170 gal 3.10 per gal Corn syrup 15 gal. 11.30  per gal Salt 68 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 08-99 were as follows: 3,100 lbs. of tomatoes 163 gal. of vinegar 16 gal. of corn syrup 67 lbs. of salt

Problem 16-61 (Algo) Direct Materials (LO 16-5) Information about direct materials cost follows for a local company: Standard price per materials gram Actual quantity used Standard quantity allowed for production 20 2,270 grams 2,400 grams $15,890 F Price variance Required: What was the actual purchase price per gram? Actual purchase price per gram

Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,600 pounds) has the following standards:   Standard Quantity Standard Price Whole tomatoes 2,700 lbs. $0.52 per lb. Vinegar 150 gal. 3.20 per gal. Corn syrup 13 gal. 11.60 per gal. Salt 60 lbs. 2.90 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 08-99 were as follows: 2,800 lbs. of tomatoes 144 gal. of vinegar 14 gal. of corn syrup 59 lbs. of salt a.  Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. b.  Determine the direct materials quantity variance for batch 08-99. 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.