Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per
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Question:
Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials—net purchase price $2.50, freight-in $0.50, and receiving and handling $0.40. (2) Quantity per gallon of the finished product—required materials 3.40 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 pound of raw materials. | $ | |||
(b) | Standard direct materials quantity per gallon. | pounds | |||
(c) | Total standard materials cost per gallon. |
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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