BE11.2 (LO 1), AP Tang Company accumulates the following data concerning raw materials in making its finished product. (1) Price per pound of raw materials is net purchase price $2.30, freight-in $0.20, and receiving and handling $0.10. (2) Quantity per gallon of finished product is required materials 3.6 pounds and allowance for waste and spoilage 0.4 pounds. Compute the following. a. Standard direct materials price per pound of raw materials. b. Standard direct materials quantity per gallon. c. Total standard materials cost per gallon. Set direct labor standard.

BE11.2 (LO 1), AP Tang Company accumulates the following data concerning raw materials in making its finished product. (1) Price per pound of raw materials is net purchase price $2.30, freight-in $0.20, and receiving and handling $0.10. (2) Quantity per gallon of finished product is required materials 3.6 pounds and allowance for waste and spoilage 0.4 pounds. Compute the following. a. Standard direct materials price per pound of raw materials. b. Standard direct materials quantity per gallon. c. Total standard materials cost per gallon. Set direct labor standard.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.2E: Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each...

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