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Tang Company accumulates the following data concerning raw materials in making one gallon of finished product: Price-net purchase price $2.78 per pound, freight-in $0.46 per

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Tang Company accumulates the following data concerning raw materials in making one gallon of finished product: Price-net purchase price $2.78 per pound, freight-in $0.46 per pound, and receiving and handling $0.32 per pound. Quantity-required materials 2.94 pounds, allowance for waste and spoilage 0.71 pounds Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) Standard direct materials price per pound. Standard direct materials quantity per gallon. Total standard materials cost per gallon

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