Portland Chemical Company supplies primarily industrial users. Your superior has asked you to develop a standard product cost Requirement for a new solution the company plans to introduce. 1. Determine the standard quantity for each of the raw materials needed to produce 22 liters of Portland Chemical Company's i (Click the icon to view data on the new chemical solution.) new chemical solution and the total standard materials cost of 22 liters of the new product. The purchase prices of the raw materials used in the manufacture of this new chemical solution are as follows: E: (Click the icon to view the purchase prices.) Begin by determining the standard quantity and standard material cost of each raw material to produce 22 liters of the new product. Standard quantity Standard cost Altium 0 k g Data Table A More Info Altium Bollium Credix $3.20 per kilogram $3.80 per liter $4.10 per kilogram The new chemical solution is made by combining altium and bollium, boiling the mixture, adding credix, and bottling the resulting solution in 22-liter containers. The initial mix, which is 22 liters in volume, consists of 15 kilograms of altium and 21.6 liters of bollium. A 40% reduction in volume occurs during the boiling process. The solution is then cooled slightly before adding 12 kilograms of credix to each 22-liter container, the addition of credix does not affect the total liquid volume. Print Done Print Done