Tang Company accumulates the following data concerning raw materials in making one gallon of finished...
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Accounting
Tang Company accumulates the following data concerning raw materials in making one gallon of finished product: (1) Pricenet purchase price $3.02 per pound, freight-in $0.61 per pound, and receiving and handling $0.42 per pound. (2) Quantityrequired materials 3.50 pounds, allowance for waste and spoilage 0.80 pounds.
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