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Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials-net purchase price $2.90, freight-in
Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials-net purchase price $2.90, freight-in $0.50, and receiving and handling $0.40. (2) Quantity per gallon of finished product-required materials 3.40 pounds, allowance for waste and spoilage 0.60 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) X (a) Standard direct materials price per pound of raw materials. X (b) Standard direct materials quantity per gallon. OTO pounds (c) Total standard materials cost per gallon. Click if you would like to Show Work for this question: Open Show Work
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