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Determine standard cost of the ingredients for one gallon

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Reference no: EM132607797

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.

3,465 ounces of grape concentrate at $0.03 per ounce 54 pounds of granulated sugar at $0.35 per pound 60 lemons at $0.65 each 200 yeast tablets at $0.28 each 250 nutrient tablets at $0.11 each 3,100 ounces of water at $0.005 per ounce

Hank estimates that 1% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used.

Question 1: 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.)

Question 2: What is the Standard Cost Per Gallon?

Reference no: EM132607797

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