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Exercise $14-16($Static$)$ Developing raw material cost standards LO $14-8,14-9$

$[$The following information applies to the questions displayed below.$]$

Lakeway Manufacturing Company manufactures and sells household cleaning products. The company's research

department has developed a new cleaner for which a standard cost must be determined. The new cleaner is made by

mixing $15$ quarts of triphate solution and six pounds of sobase granules and boiling the mixture for several minutes. After

the solution has cooled, three ounces of methage are added. This "recipe" produces $12$ quarts of the cleaner, which is

then packaged in one$-$quart plastic dispenser bottles. Raw material costs are as follows:

:xercise $14-16($Static$)$ Part a

equired:

Using the preceding data, calculate the raw material cost for one bottle of the new cleaner.

lote: Do not round intermediate calculations. Round final answer to $3$ decimal places.