Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost...
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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 540-gallon batch. 3,700 ounces of grape concentrate at $0.07 per ounce 756 pounds of granulated sugar at $0.52 per pound 756 lemons at $0.73 each 1,620 yeast tablets at $0.26 each 540 nutrient tablets at $0.13 each 2,700 ounces of water at $0.001 per ounce Hank estimates that 5% of the grape concentrate is wasted, 12% of the sugar is lost, and 27% 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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