4. H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (3,128 pounds) has the following standards: Ingredient Whole tomatoes Vinegar Corn syrup Salt Standard Quantity 4,000 lbs. 270 gal. 25 gal. 100 lbs. Actual Quantity Standard Price 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: 4,275 lbs. of tomatoes 275 gal. of vinegar 20 gal. of corn syrup 90 lbs. of salt $.65 per lb. 2.25 per gal. 28.00 per gal 2.25 per lb. a. Determine the standard unit materials cost per pound for a standard batch. b. Determine the direct materials quantity variance for batch K-111. Round your answer to the nearest cent.

4. H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (3,128 pounds) has the following standards: Ingredient Whole tomatoes Vinegar Corn syrup Salt Standard Quantity 4,000 lbs. 270 gal. 25 gal. 100 lbs. Actual Quantity Standard Price 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: 4,275 lbs. of tomatoes 275 gal. of vinegar 20 gal. of corn syrup 90 lbs. of salt $.65 per lb. 2.25 per gal. 28.00 per gal 2.25 per lb. a. Determine the standard unit materials cost per pound for a standard batch. b. Determine the direct materials quantity variance for batch K-111. Round your answer to the nearest cent.

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Description: Please do not give solution in image format thanku 4. H.J. Heinz Company uses standards to control its materials costs. Assume that a batch ofketchup (3,128 pounds) has the following standards:IngredientWhole tomatoesVinegarCorn syrupSaltStandard Qua

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter23: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 7E: H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup...

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