Exercise 11-2 Hank Itzek manufactures and sells homemade wine, and he wants to d

Question

Exercise 11-2 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 780-gallon batch 3,400 ounces of grape concentrate at $0.07 per ounce 1,014 pounds of granulated sugar at $0.39 per pound 1,248 lemons at $0.70 each 1,560 yeast tablets at $0.22 each 2,340 nutrient tablets at $0.14 each 2,600 ounces of water at $0.007 per ounce Hank estimates that 1% of the grape concentrate is wasted, 14% of the sugar is lost, and 22% 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 Galon e

Explanation / Answer

Working:

Standard Cost per galon $3.22

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