Brief Exercise 25-2 Tang Company accumulates the following data concerning raw m

Question

Brief Exercise 25-2 Tang Company accumulates the following data concerning raw materials in making one gallon of finished product: (1) Price-net purchase price $2.90, freight-in $0.42, and receiving and handling $0.49. (2) Quantity-required materials 3.37 pounds, allowance for waste and spoilage 0.60 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 (c) Total standard materials cost per gallon.S pounds gallon

Explanation / Answer

a) Standard direct material price per gallon = (2.90+.0.42+0.49) = $3.81 price per gallon

b) Standard direct material quantity per gallon = (3.37+0.60) = 3.97 Gallon

c) Total standard material cost per gallon = (3.81*3.97) = $15.1257

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