Question Description 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.

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