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Brief Exercise 11-2 Tang Company accumulates the following data concerning raw materials in making its finished...

Brief Exercise 11-2

Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials—net purchase price $2.70, freight-in $0.60, and receiving and handling $0.20. (2) Quantity per gallon of finished product—required materials 3.50 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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