Martina Company manufactures a powerful cleaning solvent. The main ingredient in the solvent is a raw material called Echol. Information on the purchase and use of Echol follows: Purchase of Echol: Echol is purchased in 15-gallon container at a cost of P115 per container. A discount of 5% is offered by the supplier for payment within 10 days, and Martina Company takes all discounts. Shipping costs, which Martina Company must pay, amount to P130 for an average shipment of 100 15-gallon containers of Echol. Use of Echol: The bill of materials calls for 14.25 quarts of Echol per bottle of cleaning solvent. (There are four quarts in a gallon.) About 5% of all Echol used is lost through spoilage or evaporation (the 14.25 quarts above is the actual content per bottle.) In addition, statistical analysis has shown that every 31 st bottle is rejected at final inspection because of contamination. Requirements: 1. Compute the standard purchase price for one quart of Echol. 2. Compute the standard quantity of Echol (in quarts) per salable bottle of cleaning solvent