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Tang Company accumulates the following data concerning raw materials in making one gallon of finished product. (1) Price-net purchase price $2.50, freight-in $0.50, and receiving
Tang Company accumulates the following data concerning raw materials in making one gallon of finished product. (1) Price-net purchase price $2.50, freight-in $0.50, and receiving and handling $0.40. (2) Quantity-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.) Standard direct materials price per qallon. a) Standard direct materials quantity per galllon. (b) pounds (c) Total standard materials cost per gallon
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