Pronghorn Company accumulates the following data concerning raw materials in making one gallon of finished...
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Accounting
Pronghorn Company accumulates the following data concerning raw materials in making one gallon of finished product. (1) Pricenet purchase price $2.60, freight-in $0.20, and receiving and handling $0.10. (2) Quantityrequired materials 3.60 pounds, allowance for waste and spoilage 0.40 pounds. Compute the following. (Round answers to 2 decimal places.
(a) Standard direct materials price per gallon. $enter a dollar amount rounded to 2 decimal places
(b) Standard direct materials quantity per gallon. enter an amount of pounds rounded to 2 decimal places pounds
(c) Total standard materials cost per gallon. $enter a dollar amount rounded to 2 decimal places
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