Hank Itzek manufactures and sells homemade wine, and he wants to develop a...
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Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 50-gallon batch. 3,395 ounces of grape concentrate at $0.07 per ounce 54 pounds of granulated sugar at $0.40 per pound 60 lemons at $0.80 each 250 yeast tablets at $0.20 each 100 nutrient tablets at $0.10 each 3,000 ounces of water at $0.005 per ounce Hank estimates that 3% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used. Compute the standard cost of the ingredients for one gallon of wine. (Round intermediate calculations and final answer to 2 decimal places, e.g. 1.25.) Standard Cost Per Gallon $
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