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Patricia Company accumulates the following data concerning raw materials in making its finished product. (1)...

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Accounting

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Patricia Company accumulates the following data concerning raw materials in making its finished product. (1) Price per pound of raw materials is net purchase price $2.60, freight-in $0.50, and receiving and handling $0.40. (2) Quantity per gallon of finished product is required materials 3.3 pounds and allowance for waste and spoilage 0.7 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. (c) Total standard materials cost per gallon. $

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