Brief Exercise 11-2 Tang Company accumulates the following data concerning raw m

Question

Brief Exercise 11-2

Tang Company accumulates the following data concerning raw materials in making one gallon of finished product: (1) Price—net purchase price $2.68, freight-in $0.55, and receiving and handling $0.23. (2) Quantity—required materials 3.54 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 gallon.

$

(b) Standard direct materials quantity per gallon.

pounds (c) Total standard materials cost per gallon.

$

Explanation / Answer

a) Standard direct materails price per gallon 2.68 + 0.55+ 0.23 $3.46 b) Standard direct materials quantity per gallon 3.54 + 0.70 4.24 c) Total standard materials per gallon 4.24 * $3.46 $14.6704

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