Concept explainers
Tang Company accumulates the following data concerning raw materials in making one gallon of finished product. (1) Price—net purchase price $2.30. freight-in $0.20, and receiving and handling $0.10. (2) Quantity—required materials 3. for waste and spoilage 0.4 pounds. Compute the following.
(a) Standard direct materials price per gallon.
(b) Standard direct materials quantity per gallon.
(c) Total
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