Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,000 pounds) has the following standards: Standard Quantity Standard Price
Whole tomatoes 3,300 lbs. $ 0.39 per lb.
Vinegar 190 gal. 2.40 per gal.
Corn syrup 16 gal. 8.70 per gal.
Salt 76lbs. 2.20 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-54 were as follows:
3,400 lbs. of tomatoes
182 gal. of vinegar
17 gal. of corn syrup
75 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-54. If required, round amounts to the nearest cent.

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.

Suppose that the firm cherryblossom has an orchard they are willing to sell today. the net annual returns to the orchard are expected to be $50,000 per year for the next 20 years. at the end of 20 years, it is expected the land will sell for $30,000. calculate the market value of the orchard if the market rate of return on comparable investments is 16%.

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