Reference no: EM132593778

Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (800 pounds) has the following standards:

                                              Standard Quantity               Standard Price

Whole tomatoes                             1,300lbs.                           $ 0.38per lb.

Vinegar                                         70gal.                               $ 2.30per gal

Corn syrup                                    6gal.                                   $ 8.40per gal.

Salt                                           28lbs.                                   $ 2.10per 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:

1,400 lbs. of tomatoes

67 gal. of vinegar

7 gal. of corn syrup

27 lbs. of salt

Question a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent.