Current Attempt in Progress Coronado 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. 3,360 ounces of grape concentrate at $0.02 per ounce 54 pounds of granulated sugar at $0.55 per pound 60 lemons at $0.90 each. 150 yeast tablets at $0.26 each 250 nutrient tablets at $0.14 each 2,400 ounces of water at $0.005 per ounce Coronado estimates that 4% 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 eg. 1.25) Standard Cost Per Gallon
Current Attempt in Progress Coronado 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. 3,360 ounces of grape concentrate at $0.02 per ounce 54 pounds of granulated sugar at $0.55 per pound 60 lemons at $0.90 each. 150 yeast tablets at $0.26 each 250 nutrient tablets at $0.14 each 2,400 ounces of water at $0.005 per ounce Coronado estimates that 4% 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 eg. 1.25) Standard Cost Per Gallon
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:Current Attempt in Progress
Coronado 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.
3,360 ounces of grape concentrate at $0.02 per ounce
54 pounds of granulated sugar at $0.55 per
pound
60 lemons at $0.90 each.
150 yeast tablets at $0.26 each
250 nutrient tablets at $0.14 each
2,400 ounces of water at $0.005 per ounce
Coronado estimates that 4% 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,
eg. 125)
Standard Cost Per Gallon
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