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Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materialsnet purchase price $3.30, freight-in
Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materialsnet purchase price $3.30, freight-in $0.50, and receiving and handling $0.30. (2) Quantity per gallon of finished productrequired materials 3.70 pounds, allowance for waste and spoilage 0.70 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.)
(a) | Standard direct materials price per pound of raw materials. | $ | |||
(b) | Standard direct materials quantity per gallon. | pounds | |||
(c) | Total standard materials cost per gallon. | $ |
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